Bear dump's are the freshest, but lets wait for the poo to cool first.
Recent setup:
Attempt to test the high fell short with a low vol top, resulting in a breakdown with expanding vol.
New support at 8700
We could see another impulse to 8500-8300, then a sideways channel that could break either way.
Should you buy or wait for better prices?
More aggressive strategy: preempt the handle bottom/channel
13 day handle (total 70 days since mid dec bottom)
possible handle bottom on day 20 since the cup finished (mar 4)
You should buy this dip if:
you believe the bulls are back, and we won't see 7K again,
Want to add to existing position in the money
Don't have any exposure
Otherwise wait for better prices.
Recent setup:
Attempt to test the high fell short with a low vol top, resulting in a breakdown with expanding vol.
New support at 8700
We could see another impulse to 8500-8300, then a sideways channel that could break either way.
Should you buy or wait for better prices?
More aggressive strategy: preempt the handle bottom/channel
13 day handle (total 70 days since mid dec bottom)
possible handle bottom on day 20 since the cup finished (mar 4)
You should buy this dip if:
you believe the bulls are back, and we won't see 7K again,
Want to add to existing position in the money
Don't have any exposure
Otherwise wait for better prices.
