I charted this December but on the daily, I feel I should have Charted the weekly so here it is and as you can see it's quite similar to my daily 6k chart, Now will what I thought back then happen now and we go down to $2800-3000 or will it play a similar pattern to what it did on the daily....
I very much think will will complete this EW but what happens when we get there is what everyone wants to know.
If we cross the bold resistance then I would call the bear market over, I do think it will be rejected and we will see the real bottom which in my opinion is the $2800 area, if that breaks then the next target is $2200. This could be quick and nasty...
I have been following a pattern on the Ichimoku cloud for some time now and can see it's now crossed to the 12hr like I suspected it would, It is very likely to cross to the daily too now.
I have posted 2 scenarios,
The blue path is what I think will happen.
The red path is something I saw in the 12hr TF
The 12hr chart shows we are inside the cloud, We have...
I think it will correct as planned but there is a possibility it goes sideways and then carries on straight up to my next target area of $4400
This chart is a continuation of my last idea but with a little clean up for easier viewing,