Presently I would like to introduce you to the 'Bearish Play' scenario. It is based on a few simple factors:
1. Short-term trend is .
2. The price put in a fresh lower high.
3. People are absolutely fixed on the Triangle wave pattern on the . It implies lower prices.
The tipping point for me is this pattern. It becomes invalidated below 8173, and its failure would shift the in favor of the sellers. So this is my short trigger.
It should also be noted that the has reached an extremely low reading. It is even lower than on April 12 when the price surged some 18% within a few hours. We should now be prepared for similar price action.