Its a very specific part of the TA cycle that were in here as a...

Its a very specific part of the TA cycle that were in here as a C wave decline bottoms out, its very well documented in EW theory and I've also studied it very closely.. holders feel exhausted, abandoned and strung out at these deep Fib retracement levels, but the thrashing has all been done and there's no momentum left from sellers to drop the price significantly further.,,price range then becomes congested between the 65 ema and 200 ema`s as they narrow in on each other....then out of the blue on an announcement a big green bar up through the 65 ema appears and a powerful new up trend is born.