Structure Break Hints at 200% Rally—But Confirmation Is Key

Price action has broken out of a long-standing bearish structure with a strong impulse, taking out the last lower high. It’s now testing the 0.618 Fibonacci retracement in confluence with VWAP from the downtrend high. This zone is critical.

If price confirms a higher low at the point of control and this Fibonacci confluence, it increases the likelihood of a bullish Wave 3 targeting the range high.

Until then, we remain in a transitional phase—watching for confirmation and a shift in structure.