Same pattern we have had on the charts for weeks now. Bulls finally lost the battle and bears took price down much lower. Those using the triangle were using stops anywhere from $9400-9500 area and as of this posting, we are down under $8700 a couple hours later. RSI on 4 hour and daily is oversold so lets see if bulls try and offer a solid bounce opportunity. Keep in mind, what was once support (bottom of triangle - purple line), when it fails and breaks down often later becomes resistance. As traders, oversold bounce opportunity here or watch and see if bulls can get above bottom of triangle on any move back up.
Just My 2 Sats!
Just My 2 Sats!
