I think most of us agree that a big crash is coming. A lot of people have been trying to short it on the way up which is and was way too early in my opinion.
Here are the reasons why:
- We had those triple equal highs there now quadruple highs. This means A LOT of traders their stops are above those highs, do you really think the market is going to go down without taking those stops first? I do not think so, those stops need to be taken out before the rash starts. - We also got a liquidity gap/insufficient move down that needs to be filled to once those stops are taken out. I do believe this will get filled. - Above that Liq Gap we got a nice Weekly breaker which should act as hard resistance so i do expect that this will be the top. Lower timeframe entries on bearish market structure would be ideal for a short. - MAX pain for retail traders would be us taking out those ATH and then crashing down. That scenario is possible to and i would be all over that to short the hell out of it.