This is a grand scale chart, looking at the longer periods of time, ignoring the noise in the short-term.
It's a chart to look back at, a year or two from now.
The goal of this chart is to give us the important levels where we can expect stronger reactions in the price movements and eventually at one of these levels the final bottom of this entire bear market is likely to be formed.
It is not any kind of prediction.
It does not show my expectations of where the price will go (especially not in the short-term).
It only shows the levels where I expect the bottom will eventually be found with higher probabilities.
The levels shown on the chart (especially the grey areas) are historically strong demand zones and contextually marked the important events in this market.
This chart does not take into consideration any short-term moves such as intermediate bounces from one of the support areas, retraces up to 5800 (if we see them) or anything of that nature.
As long as the price stays below 6400, the levels on this chart will be relevant and valid.
Anything that happens in between is of no interest to this analysis.
It may take weeks, months, even a year or more.
How can we use these price levels then?
If we know where to look for signs of a bottoming process, it is much easier to recognize it once it does happen.
The context of where certain price action happens is extremely important.
This chart aims to give you those areas.
It's a chart to look back at, a year or two from now.
The goal of this chart is to give us the important levels where we can expect stronger reactions in the price movements and eventually at one of these levels the final bottom of this entire bear market is likely to be formed.
It is not any kind of prediction.
It does not show my expectations of where the price will go (especially not in the short-term).
It only shows the levels where I expect the bottom will eventually be found with higher probabilities.
The levels shown on the chart (especially the grey areas) are historically strong demand zones and contextually marked the important events in this market.
This chart does not take into consideration any short-term moves such as intermediate bounces from one of the support areas, retraces up to 5800 (if we see them) or anything of that nature.
As long as the price stays below 6400, the levels on this chart will be relevant and valid.
Anything that happens in between is of no interest to this analysis.
It may take weeks, months, even a year or more.
How can we use these price levels then?
If we know where to look for signs of a bottoming process, it is much easier to recognize it once it does happen.
The context of where certain price action happens is extremely important.
This chart aims to give you those areas.
