The breakdown which I called yesterday on the 1W 
and on the 1H 
is occurring.
This dip is not being bought. We are already in a lower descending channel from last night, and still the volume is abysmal. This is a step towards confirmation that the spinning top doji on the weekly was one representing a short-term reversal.
In the bullish market we have been experiencing, this low-volume dump should have retraced up. But it hasn't. It has only continued lower.
The aqua circles show where the ascending support (we have been pinging along for months) broke.
The blue rectangles represent different potential bottom ranges for this drop. The darker they are, the less likely this dip ends in that range.
Be careful buying this dip this early, clearly many people are holding back doing so thus far.
Like and follow for more! Best of luck to everyone!
This dip is not being bought. We are already in a lower descending channel from last night, and still the volume is abysmal. This is a step towards confirmation that the spinning top doji on the weekly was one representing a short-term reversal.
In the bullish market we have been experiencing, this low-volume dump should have retraced up. But it hasn't. It has only continued lower.
The aqua circles show where the ascending support (we have been pinging along for months) broke.
The blue rectangles represent different potential bottom ranges for this drop. The darker they are, the less likely this dip ends in that range.
Be careful buying this dip this early, clearly many people are holding back doing so thus far.
Like and follow for more! Best of luck to everyone!
Note
(Also, we are about to close what looks like will be a tombstone doji. 2 out of the last 7 candles on the 1H have been tombstones.)
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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.