Here is a Wyckoff distribution pattern I am seeing and suggest two potential paths before the eventual downturn:
Path 1 - No HH but a weak LPSY
Path 2 - HH to hit .5 fib
More inclined to Path 1 considering the range is tilted downwards and also the leeway in momentum divergences.
Path 1 - No HH but a weak LPSY
Path 2 - HH to hit .5 fib
More inclined to Path 1 considering the range is tilted downwards and also the leeway in momentum divergences.
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Also if its a new HH, i would think this will evolve into a much bigger TR, but considering where we are in the cycle and wave that's not likely. So, bias is for a weak LPSY to ~28/29k or <30k
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Tick-tock
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Generally, if the price lingers at channel support like this, will eventually breakdown, failed recapture.
Generally, if the price lingers at channel support like this, will eventually breakdown, failed recapture.
