Just like in my previous publish when we were approaching a Christmas breakout. The difference this time is that the price is near a line of attraction which the price will gravitate to. This dotted line existed pre-peak as well. If the price is able to break-out past the red line of resistance, we might see another spike up followed by a retraction similar to the Christmas Breakout. The price will pull back within the new lines continuing an overall downward trend albeit at a lesser decline than before. There are two lower floors that exist that I would consider a 2nd chance opportunity for FOMO people to average down, and new people jump in as we head into L2 release.
Comment:
If we don't breakout we are looking at a return to the upper floor Jan 5-6. If the lines of resistance hold, then Jan 9-11th is going to tell us if we will have a major breakout, or a massive decline back down to Sept '21 prices.
Comment:
One last thing to consider: The upward price action happening today is achieved with massively less volume than ever before. Volume is become more powerful in moving the price.