Looking at our trend timeframe we see ZRX is looking to form a double bottom on our highest timeframe. Stochastic RSI showing momentum is heading towards the downside, with no signs of slowing down. A weekly reversal at 8000 is our ideal opportunity.
Shifting over to our pattern timeframe we see price is copying our previous drop from 18000 (higher high) to 5000 (higher low). Stochastic RSI showing momentum is heading towards the downside with no signs of slowing down. Expecting our higher high at 22000 to retrace and form a higher low at 8000. Worst case scenario support at 8000 does not hold and we see a drop to 5000 leaving us with a regular double bottom and not our infamous wammie double bottom.
