LATE TO THE SELLING PARTY?!?! Don't worry its still going

23 Jul 2022

Coming from a very aggressive move down it is interesting to see how price played out this past week. I would've expected a deeper retracement considering the size of the bearish move we had just experienced but the price exhibit all the characteristics of a sideways accumulation. Given the blaze of bullish glory in which it ended the week, I wouldn't be surprised to see the market take the ground from under the buyers feet and see them crash. I don't expect for price to go much higher than where it closed on Friday, maybe around 1.2940, and would be looking to sell after a rejection around that zone.