Exploring the Bear Scenario
Let's assume price doesn't break above the channel and we have a wave lower. I personally think price will find support at one of the fib retracement levels of this first wave up. 50% retrace is usually where I start to look for real support. That said, if we go all the way to the lower regions of the bear channel, then some amazing buying opportunities will become available.
I think we will see support at a higher low, just like i said in my last idea. Consolidation sideways for a few days and then potentially a new wave up and out of this bear channel.
I think we will see support at a higher low, just like i said in my last idea. Consolidation sideways for a few days and then potentially a new wave up and out of this bear channel.
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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.