This is an outlook for the next month (up to mid July, more or less). The overall trend is bearish. We expect a completion of wave 3 (first red line), then a retracement (green) and a continuation to complete wave 5 (second red) - down to the sub-9k to mid-8k levels.
Invalidation: if we reach higher highs in the coming weeks (breaching the 10K-10K3 resistance levels).
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Well... told ya so. I hope you followed the idea. It was precise down to the penny - both the dump and the bounce. To be honest, the speed surprised me, I expected the bounce to last longer - which may still be the case. The main thing is that the ascending triangle pattern was broken (unlike what most CT analysts had in mind). So what's next? We have to be cautious now, because things unrolled so fast. Back to analysis.
If I'll see likes and interaction, it'll motivate me to update the idea.
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So far things are going as planned. We're touching (again) the low 9K with expectation to break down to the high 8K and further capitulation to the low 8K and potentially even high 7K. That would be a good opportunity with the anticipation of the July-August rally (not a financial advice). Let's see how things pan-out. Be cautious and always be on the lookout for unexpected wicks and events.
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Just press the "Play" button at the top. Isn't it a proof that I came from the future? :) lol