The breakout of the trendline was very clearly a trap.
Buyers are now panicking holding on to their last hope that price will reverse back to the upside.
This is highly unlikely to happen.
We are likely to see a strong sweep of the equal lows to liquidate remaining buyers before we see any signs of a reversal.
I want to buy in for a long-term swing with the members around 1600.
Let me know what you think in the comment section.
Buyers are now panicking holding on to their last hope that price will reverse back to the upside.
This is highly unlikely to happen.
We are likely to see a strong sweep of the equal lows to liquidate remaining buyers before we see any signs of a reversal.
I want to buy in for a long-term swing with the members around 1600.
Let me know what you think in the comment section.
