Thinking of a temporal reversal - we had a brutal sell off last few weeks, every bounce has been dumped down lower, shorts are at a very high number at the moment. There is a bullish RSI/price divergence on the daily + on lower timeframes.
If that invert H&S that looks more like a bat plays out, the right shoulder could break under the current ascdending trendline (around 3750) for the bounce
Because of the heavily bearish background a bullish market is still unconfirmed until the next drop will be a higher low (1) followed by a higher high than the last high (2).
Please consider the red markings mainly
Regarding that we are in a downwords channel, I see 3 outputs from the current situation:
1) it manages to stay the next coming days on the redline A) it currently is running on. This could built a structure for a next jump higher up to 9000
2) it s going downwords from the redline A) it currently is running on and if it...
