i feel like sellers are probably exausted at this point and what more bad news could there possibly be left?
i think a short lived pump to squeeze shorts is coming up, but of coure we will have to see which way this triangle breaks,
a lot of people probably got caught longing what appeared to be a break to the upside of the translucent trendline i have drawn from the previous local top to the second swing high of this triangle and got dumped on and if we break below the bottom trendline they will capitulate. so there are definitely some trapped longs here too so it really could break either way.
gonna be interesting to see how this plays out for sure
i think a short lived pump to squeeze shorts is coming up, but of coure we will have to see which way this triangle breaks,
a lot of people probably got caught longing what appeared to be a break to the upside of the translucent trendline i have drawn from the previous local top to the second swing high of this triangle and got dumped on and if we break below the bottom trendline they will capitulate. so there are definitely some trapped longs here too so it really could break either way.
gonna be interesting to see how this plays out for sure