It has been a rushed climb from ~290 to 427+. This rise is unsustainable at this point. It has missed its chance at a correction and consolidation and must crash soon. The highest I think it can go is ~435. ~460 at most (drew the Fibo target levels slightly off).
Comments
MRS_Watanabe
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everyone is saying the same thing 'it must crash soon' but when everyone leans on the same side of the boat they get wet. Reg your chart your Fibo projection is saying 437 here we come now 408 is gone
HelloWound
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I dangerously underestimated the sentiment. The news is incredibly optimistic with so many stories. As it finally retested 400 I closed my shorts and bought back in.
MRS_Watanabe
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HelloWound yes good place to buy back and go long. This is from wikipedia A fundamental principle of technical analysis is that a market's price reflects all relevant information, so their analysis looks at the history of a security's trading pattern rather than external drivers such as economic, fundamental and news events.