blue and green = bull
yellow and orange = bear
Now it appears that either
a) blue waves 2 -> 3 are ongoing
b) still wave IV (orange) is ongoing and needs to be dragged higher (since it's possible that it retraces more)
From a 70% chance for the bears, now I'd say it's a 50%-50% case.
Bearish = yellow/orange
Bullish = green/blue
After reaching ~$8,100(wave IV and wave i coincide) and falling back to ~$7,600 (wave ii ):
if it starts to rise significantly (> $7,800) and heading towards wave iii , bear count could get cancelled. if it continues to drop from $7,600, bull count gets cancelled.
Exact values are references, since extensions and...
$ 7,075 - $ 7,300 is a critical zone, if it goes below => Case 1), and if it starts growing we have a chance for a bull market
I'd say the odds are 70% for the bears.
