On the above 4-day chart price action has corrected 90% since the sell signal back in December 2021 (not shown). Now is an excellent moment for long positions. Why?
1) Strong buy signal (not shown).
2) Price action and RSI resistance breakouts following 500 days of resistance.
3) Strong regular bullish divergence as measured over a 120-day period. 10 oscillators print positive divergence with price action.
4) Price action confirms support on the 21-week EMA bull market support band (yellow line).
Is it possible price action falls further? Sure. Is it probable? No.