This scenario is based upon correction wave cycles, pitchfork trend analysis and a forming bullflag on the 3 month timeframe.
If this bullflag reaches support at the end of the C correction wave, we could be in for a big and bullish breakout of the bullflag in q3/q4 of 2019 which could be the ignition and first glimpse of a major bullish wave as the one seen back...
Horizontal Resistance of the TR points couldn't be broken by the daily candles from 18th jan to 29th.
Momentum on the MACD Histogram looks set to go into negative territory
So does the MACD Crossover indicator looking set to cross, which usually triggers the reverse side. In this case to the downside.
Most importantly, we're still below the 200 EMA , and until...
This developed scenario analysis is based upon the high timeframe trendlines as well as the fractals between the bearmarket 2014-15 & the one were currently in. The bottom price I've chosen is just a number I have a strong connection to.