Clearly the price has been going down and yes it could bounce. I would estimate it could grind up by up to 6.2%. I just made a short entry and staggered extra limit shorts within the rage I just mentioned to average up my entry if we go higher so I can get out break even on the retrace if it happens. It looks like a bounce is happening now.
Note
I should have said grid style placement of limit short orders.Note
I think it is possible if the rest of the market keeps downward pressure on prices that we could see (potentially) a retest of the recent bottom - so up to 16% fall
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My Substack website provides my regular vlog establishing daily chart price trend bias for traders and investors to gain useful data.
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.