For weeks we've heard various targets for the "bottom" of this correction, some magical place where the pullback from the peak would finally reverse and the bulls would get their mojo back. I aimed for 7.5K on my previous charts, and as the correction goes on, that target has come into sharper focus.
After hitting the fabled "8K" that everyone's been chanting about, we should see a solid bounce back up to a strong demand, on the way to complete a trendline, and enjoy more sideways ranging from 10K-11,5K underneath that 50% fib.
Looking for a strong bullish reaction around 15-16K. Might be setting up for another bull trap and slow slump just like how the 2014 bubble bear market started..
After hitting the fabled "8K" that everyone's been chanting about, we should see a solid bounce back up to a strong demand, on the way to complete a trendline, and enjoy more sideways ranging from 10K-11,5K underneath that 50% fib.
Looking for a strong bullish reaction around 15-16K. Might be setting up for another bull trap and slow slump just like how the 2014 bubble bear market started..