Here is a humble little chart of mine. I would certainly love any feedback you can give.
As you notice we have been in a large wedge. I believe we fell down into it from Dec. Whether or not this is a 5 count down, or possibly an ABCDE correction.. doesn't matter. We just took a run at the wedge line and were stopped when most people were bullish thinking 10K, 12k, 14k.. none of that happened.
The point is.. I think we have to fall back down to about $7000 to $7200 to finally break forward with enough bulls to push us on a real bull run. As you can see as well, this may also present as a H&S.
As you notice we have been in a large wedge. I believe we fell down into it from Dec. Whether or not this is a 5 count down, or possibly an ABCDE correction.. doesn't matter. We just took a run at the wedge line and were stopped when most people were bullish thinking 10K, 12k, 14k.. none of that happened.
The point is.. I think we have to fall back down to about $7000 to $7200 to finally break forward with enough bulls to push us on a real bull run. As you can see as well, this may also present as a H&S.