US30: Headed Down or Up in Early January?

Timeframe: 1-Hour
Market Bias: Bearish Market Bias

1. Pivot High of 37808 reached on Friday, creating a cascade of bearish candles. Among them, a Popgun Pattern formed that is a three-bar pattern (of Inside Day-Outside Day) that
forewarns of high volatility. In this case, it would make Major Pivot Low (not minor pivots), then make Major Pivot High, and end with a Major Pivot Low.

2. Cascade of bearish candles, ended with a broad Exhaustion candle that bore through three layers of a Support and Resistance Zone, but only ended near zone's low, that became the 1st Pivot down. When more than three candles of the same color are in succession, they can be measured from the top candle's open to the last candle's close to create a potential Take Profit: 37415 (not shown in image) without using a Fibonacci.

3. The 2nd Pivot going up was four bullish candles, starting with the first as Hammer with a Pivot Low of 37560 - its limit level. And, the last of the four bullish candles was a Spinning Top, tangling with the Bullish Trendline (in green dotted line) that acted as resistance. By measuring these four candles, potential Take Profit: 37855.

4. The last, 3rd Pivot down ended the New York session with a broad bear candle, headed for the Support and Resistance Zone again. Question: Will it break past the Pivot Low of 37560 and go further? We will see.

*Special Note: On the Daily Timeframe, the bullish price action has reached an Anti-Climax for the Bears to show their hand.