Traders,
I have been a bull for the last 4 months or so as a result of the parabola drawn above, which began in December of last year and has been confirmed numerous times this year on strong volume.
It appears as of today, that parabola has been broken. Historically, this has meant further price drops and I suspect we will see further drops here. Next support is around the 9650 level. I'm not going to play the game of price predictions at this point, as we could see it go much lower. I've retreated to cash for now until I see reasonable prices with long-term support. Good luck out there. It's bear season again.
I have been a bull for the last 4 months or so as a result of the parabola drawn above, which began in December of last year and has been confirmed numerous times this year on strong volume.
It appears as of today, that parabola has been broken. Historically, this has meant further price drops and I suspect we will see further drops here. Next support is around the 9650 level. I'm not going to play the game of price predictions at this point, as we could see it go much lower. I've retreated to cash for now until I see reasonable prices with long-term support. Good luck out there. It's bear season again.