Thought I would plot some interesting prices based on trendline crossing and Fib (my) ratios. I would say they are all plausible, but as we have learned from this year, anything is possible, so I wouldn’t get too bearish
until there is some more momentum picking up downward. Potentially after options expiration this Friday would be a good time to get some puts or verticals to the bearish
side. That being said, that would be an oppotune time for people to dump, so we might see more flatness. Things are getting oversold, so I would imagine we head up to the 3800 area and then drop our usual 50%. Alternatively, we could continue down to 37773 if the tides are really turning, but I am not hopeful of that just yet.
Everyone knows we have plenty of room to fall, but I think it might be a touch premature for a more significant drop. I think we need a proper explosion up again before any hard dumping, so short term bullish
but cautious, still long term bearish