The further the price drops, the closer to the end of the drop we are, and the riskier it is to open a short position. The risk-return relationship begins to not pay off.
Despite all this bad news out there, I still see the sun shine and I still see children playing in the park...
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The price is in the retraction of 38.2%, in a troubled region. The question now is whether the price will go straight to the 50% retracement, or whether it will go back into the blank parallel channel.