The move came up beautifully, but much faster than anticipated. It still appears to be moving up in corrective fashion, so my primary target will be the major area of confluence around $12,500. However, I wanted to note that we do not need to make it there - this could be finished and ready to move down. In the event of this possibility, I have already began laddering in short entries. When we do see the pullback, it can happen fast, but it cannot break below $10k. If it does, then the bulls have dropped the ball and we will be moving down under bearish control - in my opinion.
I do not think that this is the case, but if we end up with continuing to the upside impulsively, this is what I would be looking for.
It must find support and bounce in the region highlighted in green.
Best of luck guys, I'm feeling like the dump is nigh.
I do not think that this is the case, but if we end up with continuing to the upside impulsively, this is what I would be looking for.
Best of luck guys, I'm feeling like the dump is nigh.
