Looks like we may be moving to the down side.
Note
We formed a descending channel. In this crazy market, shorting might be too risky; however, I will definitely not buy back until we can see some reversal signs.
Overall, this is a very needed correction for a healthy long term bull run. My short term targets for accumulations are $10,200 and $8,500.
Note
First target met. From the buying volume, there is a strong probability that we won't hold the $10,200 level. If we break this resistance, we are very likely going to $8,500 or even lower.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.