Well, did I miss my target of $9,500? It's possible. It's also possible that we correct down to $8,200 and then rally to $9,500. Likely, I'm leaning toward the prior.
Declining bull volume with same price action lets me know there's not as much strength in this move. As predicted, I'm thinking this will be just another bull trap and bear flag as we come down to test the low of the bounce again and ultimately test $6k again.
We saw a reversal bear candle on uncertain volume, ultimately letting the bears gain control easily with minimal effort. Now, the bears are showing signs of follow through and we should see a bigger volume candle for the daily.
Technical indicators on shorter charts show we might see some small upside to the $8,750 resistance level.
In my opinion, it's still a spot to sit tight.
do you see an possible EW count here? really heart to say in my opinion
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Excellent article
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