Here is the sequence of swings: Up-Down-Up.
The upward rally already started. Afterwards, it had pivoted for the downward move that is happening now. After the bear run, the last pivot will be back to the upside for the last and final swing.
*Side Note: Price action is moving within an Inside Day pattern for a market pause with no true direction. As the candles consolidate, a breakout will occur, either at the pattern's high at 44,440 or low at 44,193 (shown as two orange lines) for true direction.
