It's somewhat clear, IMH0, that we're all bearing witness to 'Manipulation War' between Whales, Institutions, Exchanges, etc, who want two different things.
One faction want Bullishness, the other Bearishness. I personally feel the underlying tone is Bullishness, but these Power-Bears are smashing the Bulls down at crucial Technical moments and whenever the Bulls try to breakout.
Today (see purple outline on Chart), we saw an attempted Bull breakout in 5 min Candle, and then almost immediately the Bears smacked the Bulls down from $6493 to $6208 within 5mins - with higher Volume. Faarrk.
It was the same Power-Bears who culled the Bulls from $8200 to $7400 - taking advantage of thin Order Books & Volumes in the weekend; and likely taking advantage of Insider Information that the SEC were going to delay the ETF Decision.
Then the Power-Bears 'swept the legs' to $6900. And one final nudge crush to $6500 to ensure that the Bulls knew their Wave 4 was invalidated, and therefore, the Bulls' desirable Wave 5 (impulsive Bull move) wasn't going to happen.
I have no idea what will happen in the Short-term. The Market wants to go up, but the Power-Bears won't have any of it.
I wonder if the Power-Bears will now create a Bull-Trap to circa $6800, and then smash all the suckers down to $5800 - $6000, and then to $5450? I can feel it in my Bones.
Stay Sharp.
One faction want Bullishness, the other Bearishness. I personally feel the underlying tone is Bullishness, but these Power-Bears are smashing the Bulls down at crucial Technical moments and whenever the Bulls try to breakout.
Today (see purple outline on Chart), we saw an attempted Bull breakout in 5 min Candle, and then almost immediately the Bears smacked the Bulls down from $6493 to $6208 within 5mins - with higher Volume. Faarrk.
It was the same Power-Bears who culled the Bulls from $8200 to $7400 - taking advantage of thin Order Books & Volumes in the weekend; and likely taking advantage of Insider Information that the SEC were going to delay the ETF Decision.
Then the Power-Bears 'swept the legs' to $6900. And one final nudge crush to $6500 to ensure that the Bulls knew their Wave 4 was invalidated, and therefore, the Bulls' desirable Wave 5 (impulsive Bull move) wasn't going to happen.
I have no idea what will happen in the Short-term. The Market wants to go up, but the Power-Bears won't have any of it.
I wonder if the Power-Bears will now create a Bull-Trap to circa $6800, and then smash all the suckers down to $5800 - $6000, and then to $5450? I can feel it in my Bones.
Stay Sharp.
Comment:
Here it is on the 5min timeframe...Bulls got slapped
Comment:
Bulls just got manhandled again by Bears. Back under $6500.
Bear Volume speaks Volumes.
Bear Volume speaks Volumes.