After the major dump during bull denial there is usually one last pump, with lower volume and strength. This is the final trap for the bulls and the price usually continues its dump to return to pre-pump trends.
We have been stepping down these older trend lines (white lines) and slowly failing them, showing weaker bulls. When we eventually reach the double bottom indicated there should be a relatively strong rally, however it will ultimately prove not strong enough and when the bulls finally realize this, the price will cascade down violently.
We have been stepping down these older trend lines (white lines) and slowly failing them, showing weaker bulls. When we eventually reach the double bottom indicated there should be a relatively strong rally, however it will ultimately prove not strong enough and when the bulls finally realize this, the price will cascade down violently.
