META: downtrend continuation or reversal?META is down almost 60% in the last year and it looks like there are two possible outcomes from here.
Bullish scenario:
The current pattern is generally bullish and typically anticipates a significant trend reversal.
The Sentiment Index indicator shows a weakening in the Bearish Sentiment which could indicate that a more bullish sentiment could come next.
Bearish scenario:
The price is currently pushed down by two major resistances and any bull attempt must be able to break up both.
A breakdown of the Bearish Sentiment trendline (blue trendline at the bottom) would indicate a strong trend continuation to the downside.
Given the overall market condition, it is likely that META will move according to the macro-environment, however, the two scenarios above outline what to look for.
Remember to do your analysis, be patient and always look for confirmation from the indicators.
