However, over the past 6 months or so, SNAP has reversed up from a large high 2 / parabolic reversal. This usually leads to two legs sideways to up. Prices are currently testing above the sell climax, but this is a risky location to start buying. This is where bears will look to sell again, and the bulls who bought lower will likely begin to take profits. The bears still have open gaps above around 18. If this gap stays open, it will increase the probability of another bear leg down and possibly a larger . Less likely, the bulls get a strong breakout and prices continue higher without first pulling back. The bulls will look to form a around the 10 low for the second bull leg up. Most likely, prices will convert into a large trading range and test up and down with no clear direction.
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