I project this retracement in regards of a further bullish outcome since the 1D MACD seems to move towards a bullish crossover eventually :
Remember when you working with MACD to put every crossover in a location perspective. Right now, daily is still in the negative spectrum and its why it conducts me to believe to short term retracement while i dont exclude to be effective on a mid term scedule and thats why i put a first impulsive 1-2 as hypothesis.
We can see that nothing really changed when you add this hypothesis on my macro view projection :
------------------------------------ Eductional section. How do i proceed to have this hypothesis about a retracement ?
For a good, huge an horrific impulse up the MACD 1H-4H-1D need similar bullish divergence.
Short term retracement because :
1H MACD - diverge from a bullish projection on the short term and propose a probable bearish divergence/retracement on the short term.
4H MACD - adopt a form of a wave 1-2 retracement and i project the wave 3 will hapen once 1H will complet a bearish crossover like explained.
1D MACD - still no crossover but by experience this retracement will be likely to give us what i call the bunny ears bullish confirmation which can be found at the beginning of many huge move up.
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Trade closed: target reached
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exaclty as projected, little retracement then up :