Based on my analysis: The up move has now finished a cycle. But it's not yet finished for them. Because they are still strong. I'm seeing 2 possible scenarios for the next 2 days.
As you can see I've removed most of my violet lines , from my previous idea. since they are useless now. That's why I say there is 2 possible scenarios
By seeing the S4W/Mirror indicator, the green line is still strong. My guess is that another move up is about to occur again, after a short down move. let's say in 24 hours from now (in 6-8 ticks). The price may reach 6550.
If I'm not wrong, 6550 USD will be a key-point for both scenarios. If price goes up immediately after reaching that level, the Bulls will still go up. But all depends on their strength (this can be seen from the S4W horizon indicator (the green line)).
If price plunge fast below 6550 then comes back up to 6550, we will be in a possible head and shoulder scenario. Which will go down to 6100 then even lower.
But I think for now, the most probable scenario is the up move.
About cycles, the S4W/MirrorSTop indicator, shows the bulls finished an up move cycle. But another one can still occur, but at least in 24H, if that indicator still progress as it progresses now
PS: Don't take my words for granted. Analyze, re-analyze, then trade at your own risks.
PS2: If you like this analyze, please click the LIKE button. FOLLOW me also to get my latest ideas. Thank you.
As you can see I've removed most of my violet lines , from my previous idea. since they are useless now. That's why I say there is 2 possible scenarios
By seeing the S4W/Mirror indicator, the green line is still strong. My guess is that another move up is about to occur again, after a short down move. let's say in 24 hours from now (in 6-8 ticks). The price may reach 6550.
If I'm not wrong, 6550 USD will be a key-point for both scenarios. If price goes up immediately after reaching that level, the Bulls will still go up. But all depends on their strength (this can be seen from the S4W horizon indicator (the green line)).
If price plunge fast below 6550 then comes back up to 6550, we will be in a possible head and shoulder scenario. Which will go down to 6100 then even lower.
But I think for now, the most probable scenario is the up move.
About cycles, the S4W/MirrorSTop indicator, shows the bulls finished an up move cycle. But another one can still occur, but at least in 24H, if that indicator still progress as it progresses now
PS: Don't take my words for granted. Analyze, re-analyze, then trade at your own risks.
PS2: If you like this analyze, please click the LIKE button. FOLLOW me also to get my latest ideas. Thank you.