Seems like most people are thinking SHORT for the market. And while I would believe that they are right I wanted to give an alternative idea.
So news is bad, yet we still haven't seen the drop everyone is expecting. Why is that?! The dip last week was bought and the Market Makers seem like they aren't ready to let it go down yet.
Really don't want to make predictions but here we go...
1. Price is in accumulation stage right now. Shorts get what they want, gap gets filled....or maybe it doesn't and we test that support? ( report shows a decrease in LONG positions )
2. MMs buy it up but then move the price up into the top of level 3
3. FOMO sets in for those that were short. Price goes into accumulation once again. MMs take it down for a bigger drop .
This is just an idea. Should be categorized under "fiction" because no one knows. While it may not go exactly like that my point is MMs aren't ready to short yet.