Looks like another head and shoulders forming, rejection under 200MA on 4hr, bearish divergence. Very similar moves from the low in July. More consolidation in the redzone before any gains. Likely bounce from green trend line @ 40k, slow recovery, ATH in June/July 2022 that will form bull flag on Weekly. Bull run postponed until 2023 lol
Watch for contact with top of channel. big move coming
I've hit every impulse correction on the way up, now one last fake out that forms the H&S where I go short again, big leverage, then we head down to the 21 EMA on the daily chart which will form wave 2 of 5.
Still within Wedge support, time cycles tell a different story, is this the h&s everyone has hope for, or is it a false prophet?
Zooming into 2014's rise and fall, we could see a similar pattern unfolding here