Pretty much the same. Taking into consideration that we are currently in a bear market this move remains internal at a macro level.
I believe that If we are not going to challenge the current vertical resistance and come back to re-test it I'm not seeing any signs of a potential trend change.
The case presented it's on the premises that we are going to continue the downtrend. On the other hand, if the price can go and challenge the pink trendline, I will reconsider all of this. Until I prove otherwise, I believe this is the most likely thing to happen.
We are currently sitting into a demand zone on a daily chart. I believe this is a very important zone from a structure point of view.
IF we go lower everyone it's gonna scream bear market, capitulation etc...
How does the retail feel after seeing/participating in the pump after the FED meeting to then fall into the desperation or simply back into the smart money...
With the last reaction from the confluence zone and a small break on the lower degree we can definitely make a case that we might be finished here. I would like that 0.98 is pivot to be threaten then I'll feel more comfortable about this idea.