Is this just a dead cat bounce?
These last few days have made a pretty nice curve (in green), this movement had steady higher lows for a time, but recently dropped to make some new local lows, we are now close to crossing our most recent lowest low. If the price continues to break down, this could be an indication that this curve was just the bounce, and has turned into a dead cat bounce, continuing our retracement.
Targets would be the 61.80% fib line near the 2020's.
As of this writing however, price could be recovering, continuing with higher lows, which could suggest this curve is actually a reversal, and we may return to the previous upward trend.
Mid term targets would be 2800's.
Targets would be the 61.80% fib line near the 2020's.
As of this writing however, price could be recovering, continuing with higher lows, which could suggest this curve is actually a reversal, and we may return to the previous upward trend.
Mid term targets would be 2800's.
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