Reaching the bottom of an ascending regression channel (4-deviation) is more of a warning signal rather than an oversold signal for me, as reaching such selling extreme in a bull market is indicative of a potential reversal.
I am not suggesting a reversal yet, but i will be eying the very important area near $280, as outlined on chart. A break below that could be the real confirmation signal for a new bear market.
I will also be open and consider any development at that key support, a major candle or a price formation may suggest a potential bounce..
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