Above is a 15 min chart, which is part of this bigger picture on 1 hour:
And even bigger picture on the daily
I was more pessimistic until today, per my previous plans.
It is still possible that we are in the process of a larger correction.
But at least in the short term, there are plenty of signs for significant bounce at this time.
I am looking for one well defined impulse wave to define the bottom.
The two paths of 12345 on the chart would be the ideal form and amplitudes to signify a strong demand.
Lets see how it plays out.
Based upon the wave formation thus far, I am imagining something like this wave 4 could be a significant pullback, since wave 2 was pretty shallow. Wave 4 could also be a long and choppy zone. Or maybe the enthusiasm will prove wave 3 is still going without pullback.
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