Price is approaching what I call Schrödinger's Box, an unresolved structural imbalance whose outcome remains uncertain until price either resolves or invalidates it.
The market is transitioning from a price-driven correction to a time-driven resolution.
Price / Time / Space: Relative to 2022, this correction has expended considerably more price than time, suggesting the market may still require additional time to carve out a structural bottom. As downside space compresses into historical acceptance, the next move is likely to be governed more by time than by the magnitude of the decline.
Base case: The higher-probability path remains a deeper probe into Schrödinger's Box, even if only through a downside wick, before a broader reversal emerges. A sustained acceptance above 70k would invalidate this thesis.
Until then, Schrödinger's Box remains unresolved.
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