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After a rally of almost 2000%, overbought for weeks and divergences on all indicators,
I expect a bigger correction or a sideways movement in the next few months, but of course this has not yet been confirmed!
After the flash crash on the weekend, the cops could no longer correct the price, and IMO doesn't look like it either.
4 ma20 pushes the price straight down. If bulls don't surprise me in the next few hours and kick in the direction of 1D ma 50, I expect a drop to 1D ma100, where we will probably bounce.
If the price goes in this direction, I will go short after a death cat bounce.
I would like to mention that all I post are just options and my own opinion !
Always trade with SL, and do not risk more than 1% of your portfolio (max 3%) per trade.
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What do you think ?
Possible breakout - bullback trade
But be careful, triangles are often faked
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1D ema 20 resistance, i expect a retracement