Alright guys, nothing I'm about to say is new, as I've said it several times in the past few weeks, but I suspect you're not going to like it.
By know you should have already realized that all the "buy the dip's" you've been hearing have only been memes by people who claimed they knew something they didn't actually know. Things are even accelerating at a higher pace that I expected and we're almost at a free fall.
The next, or actually, the real support we have is at about $8200, which may or may not hold. I suspect it will slow things down things a bit. I expect a bounce or a series of bounces (labelled as "sideways action") around that level. We may even get one that's considerable enough to get the bull to hold on to that last remaining shadow of a hope. We could even actually bounce for real, therefore I suggest you keep an eye on that last lower high, but ultimately, I think we'll eventually break down and head towards the $7Ks.
From then on, it's really hard to tell, as I think things could go either way, we could turn bullish for real, or we could continue falling until capitulation. It's really hard to say and I think it would be best to wait until we're there to be able to plan accordingly.
As always, I don't claim my words are prophetic, I don't have a crystal ball to see the future, I'm just describing when I'm seeing in the charts, which could end up being completely wrong, so please, have a really good management plan.
That is all for now.
Stay safe!
Cheers!
By know you should have already realized that all the "buy the dip's" you've been hearing have only been memes by people who claimed they knew something they didn't actually know. Things are even accelerating at a higher pace that I expected and we're almost at a free fall.
The next, or actually, the real support we have is at about $8200, which may or may not hold. I suspect it will slow things down things a bit. I expect a bounce or a series of bounces (labelled as "sideways action") around that level. We may even get one that's considerable enough to get the bull to hold on to that last remaining shadow of a hope. We could even actually bounce for real, therefore I suggest you keep an eye on that last lower high, but ultimately, I think we'll eventually break down and head towards the $7Ks.
From then on, it's really hard to tell, as I think things could go either way, we could turn bullish for real, or we could continue falling until capitulation. It's really hard to say and I think it would be best to wait until we're there to be able to plan accordingly.
As always, I don't claim my words are prophetic, I don't have a crystal ball to see the future, I'm just describing when I'm seeing in the charts, which could end up being completely wrong, so please, have a really good management plan.
That is all for now.
Stay safe!
Cheers!