Today i explain what the prediction "short", which was consistently wrong for the last 4 days, anticipates.
Today the same prediction comes with even more reasons.
On the hourly chart we see 3 divergences of the price with its MACD histogram and 2 divergences with its MACD lines.
Purple trend sections relate quite well to the MACD histogram and turquoise trend sections to the MACD lines.
A purple divergence anticipates the end of a turquoise trend section.
Turquoise is the next higher trend order above purple.
Therefore a purple divergence anticipates a turquoise regression.
On the next chart we see 2 turquoise divergences. This created a regression of it next higer time order, lightblue.
It is drawn out in the 3rd chart.
Here the lightblue regressions can be seen nicely in hindsight because of the turquoise divergences.
The green trend section is drawn too already. Not because of a divergence, green i can not see relating to the MACD on the hourly chart. But the green rectangle, which relates to a time frame within which a green trend section completes, is pretty much over.
Finally the dayly chart.
Nothing can be seen here which suggests that the price should not continue to rise.
There will be a regression on the hourly chart though, of the magnitude of a green regression.
nice post