With volume thinning in the upward direction (exhausted from the 7k breakout) I expect price to return to Simple Target 1. I expect more on the downturn based on my momentum analysis, volume analysis, and support/resistance analysis from past price points and breakouts. I would safely short to Simple T1, and would downsize my positions slowly to T1, and so on to T2. If price breaks beyond this, I would conclude my analysis was wrong and that we entered a bull trap. I expect a bounce at T1, and we Continue on an uptrend to 8k and it's old legacy resistances from earlier this year.
Comment:
Took a while but we hit T1, Would long from here if you ran a short to T1.