Continuing to play around with "curve fitting" learned in my days as a graphic artist/illustrator. The three future scenarios are anybody's guess. They each extend to the end of 2018. We seem to currently be at the trough of a wave that crested at the December ATH. The bounces are getting smaller and the downward trend is flattening out. I think if the current...
Wondering if the overall shape of the wave can tell us anything. To me it looks like the first half of the wave has formed: crest to trough. Intuitively we would go up from here. I'm a trading NOOB, so yeah.
One could make the case that since early April and the double bottom, we are in a bull market that is currently correcting after five straight weeks of up up up. The down trend line from 20k was broken. The rise since early April was more gradual than the bounces on the way down from 20k. The downtrend we are in now looks more like the corrections that occurred...
What I'm seeing is that since the double bottom at 6.5 about a month ago, the market has been behaving like it was in the bull run from may to December. For the next week or two I expect downward retrace followed by another multi-week bull run.