Since we're approaching the channel breakout in linear scale:
It's time to redefine timefibs to a cycle of 2 historic tops so that ATH is 0. Golden Ratio of the cycle has defined the reversal, so making rest timefibs more solid.
The channel applied here is functioning on log scale which is aimed at bigger moves, because falling 2 years straight has eliminated significant amount of bears into disbalance.
Doesn't mean that it has no odds of further falling. Obviously if the price holds in current range of these historic lows. Just like here:
Specifically, it's a challenge for Zoom to hold current levels in worsening conditions of the economy. Chances of Federal Reserve with further tightening is high.
Therefore low levels doesn't yet mean a straight growth, but we do expect the pullback of the general decline. If we look closely, we can see reverse H&S shapes but bent downwards. If that pattern was clear and not so distorted, I'd be more bullish. Now it might take another cycle as an attempt to shake more bears off the market to be able to accumulate counter incentive to initiate the pullback.
The channel applied here is functioning on log scale which is aimed at bigger moves, because falling 2 years straight has eliminated significant amount of bears into disbalance.
Doesn't mean that it has no odds of further falling. Obviously if the price holds in current range of these historic lows. Just like here:
Therefore low levels doesn't yet mean a straight growth, but we do expect the pullback of the general decline. If we look closely, we can see reverse H&S shapes but bent downwards. If that pattern was clear and not so distorted, I'd be more bullish. Now it might take another cycle as an attempt to shake more bears off the market to be able to accumulate counter incentive to initiate the pullback.