Ready to move down.
I want to make a reflection, we are in front of the worst crisis after 1929. And if you see the american Markets we are almost at the highs. What's wrong with the investors?
Here are the clues that tell us that the rebound has ended:
1)Well as you can see, the correction has consumed 5 waves.
2) Price has left the bullish channel.
3) Double Top 2.972.
4) Market overbuy.
5) Today break below 2941.
On the other hand we have:
1) Double Botton.
2) The price right now is in the long term canal(orange). Base is right now on 2880.
3) Price is moving sideways 2.971 - 2.777.
I think today we had had the first clue to see a move down in the market, the little break below 2941, normaly we should retest tomorrow or even after tomorrow, nothing wrong is the price don't restest the level. Remember Fear&Greed Index is almost newtral, so from my point of view the market is ready to move down.
The main scenario is bear market with a first target in 2.777, second in 2.577 and the third in the low of mars 2.187.
Remember sell in may and go away.
The alternative will be a break above 2.971.
Good Trading and Take Care out there.
I want to make a reflection, we are in front of the worst crisis after 1929. And if you see the american Markets we are almost at the highs. What's wrong with the investors?
Here are the clues that tell us that the rebound has ended:
1)Well as you can see, the correction has consumed 5 waves.
2) Price has left the bullish channel.
3) Double Top 2.972.
4) Market overbuy.
5) Today break below 2941.
On the other hand we have:
1) Double Botton.
2) The price right now is in the long term canal(orange). Base is right now on 2880.
3) Price is moving sideways 2.971 - 2.777.
I think today we had had the first clue to see a move down in the market, the little break below 2941, normaly we should retest tomorrow or even after tomorrow, nothing wrong is the price don't restest the level. Remember Fear&Greed Index is almost newtral, so from my point of view the market is ready to move down.
The main scenario is bear market with a first target in 2.777, second in 2.577 and the third in the low of mars 2.187.
Remember sell in may and go away.
The alternative will be a break above 2.971.
Good Trading and Take Care out there.
