I have two main counts now.
The orange line is the same for both counts and then it is decision time.
Do we need to drop to 43k to shake out the weak hands and overleveraged traders again, or can we push straight up in a strong wave 3?
I highly favor the bearish alternative, because it would give us 3 red months in a row, which would be a visible wave 4 correction pattern in the monthly chart! It would also add a lot of confidence as to where we are in this bull cycle.
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
Please consider leaving a comment, like or rehive, if this post entertained you or helped you see things differently...
Have a nice day :-)
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