It appears that we are currently experiencing a similar pattern to the bull run we saw in the past. During this previous bull run, we saw a sharp decline from 65K to 29K. Currently, we are seeing a similar pattern with long positions being trapped at the top and many stops being placed below 20,4K.
If this pattern continues, we may see a decline towards the 20K...
$37 is a forgone conclusion since it also aligns nicely with the 50 week MA.
But if it doesn't decide it's done going down there, it has these other two open gaps left to fill as well..
Trade safe.
Opinion only.
