Scenario 1:
We drop towards the 200 SMA (around 3.5k) breaking it immediately or forming a triangle like the blue one you can see, getting rejected by the trendline and dropping afterwards... (Red line drawn)(This Scenario becomes more and more likely we are dumping towards the 200 SMA )
Scenario 2:
3150 was the bottom, breaking the long term trendline going into a longer consolidation phase and moving slowly upwards like we did in 2015 (Blue line drawn)
Scenario 3:
3150 was the bottom, breaking the long term trendline and, testing this year the 10k. (Green line drawn)
Scenario 3 isn't very likely in my opinion
We drop towards the 200 SMA (around 3.5k) breaking it immediately or forming a triangle like the blue one you can see, getting rejected by the trendline and dropping afterwards... (Red line drawn)(This Scenario becomes more and more likely we are dumping towards the 200 SMA )
Scenario 2:
3150 was the bottom, breaking the long term trendline going into a longer consolidation phase and moving slowly upwards like we did in 2015 (Blue line drawn)
Scenario 3:
3150 was the bottom, breaking the long term trendline and, testing this year the 10k. (Green line drawn)
Scenario 3 isn't very likely in my opinion
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