Looks like I spoke too soon as another recovery attempt comes into play.

Based on yesterday’s PA we can note that H4 closed above 3k to assist in re-flipping the long-term critical zone.

An H1 view within the same period shows two separate closes, one above 3k and the following above bearish piercing.

Both of these were still below the first short-term resistance (yellow) although momentum from the flip was able to send us towards second ‘support’ (magenta).

PA up until this point would have led to what I refer to as a “Tesla” recovery pattern; basically like an inverse head-and-shoulders but sideways actions vs. shoulders.

However this did not occur as we received another bullish breakout at second ‘support’ ( aka upper buffer) to push us back above long-term trendline.

I’ve extended the upper short-term resistance (black) to show another hurdle but ultimately the next goal would be at 3200-3250. Possible triangular pattern (highlighted).

It’s important to note that although we’re back inside the prior long-term zone the indicator I’m using for bearish -> bullish cycle is still the purple line.