I added Fib retracements for the same Idea posted earlier to clarify a major difference in structre. I still strongly belive this is the bears last chance for invalidating this continuation attempt and the possibily for another lower high.
Similarities are still very apparent, If we get the MACD + StochRSI crosses and maintain the 20 1h EMA the Idea would still hold and a continuation with be more likely in my opinion
MACD bullish cross+4h 100 EMA holding for a potential big bounce+ Stoch RSI showing signs of reversal=possible continuation and reversal of short term down trend.
on average the past year's dips have recovered in around 15 days and were between 3-5% drawdown. most of the dips strated around the 1.618 fib of the previous correction, one of the earlier ones has dipped lower than the 1.618 level but than was able to later breach, S/R flip the level and continue higher up.
a larger drop would correlate in this fractal with...
