Everything looks bearish to me including the daily close, however due to smaller TF analysis, I personally think the bottom is in for now at 6210 and expect a test of equal highs around 6500. The amount of volume we had on that one hour candle is one clue of many that helps me identify bottoms and tops of trends. To me it looks like a classic swing pattern failure and I am playing it as such. Long from 6260 with a stop at 6209.5. I think that if we break 6210 then a break of the other lows in the 6200 range is a no brainer, leading to a flush down to ~6K. Fantastic R/R on this one and I do think this plays out enough times for this play to be profitable.
As a bonus, Shorts are near ATH on Finex and when they are forced to close we might see a rather large short squeeze. Thinking of adding to my long on a dip, will update this thread but in the meantime I will be watching the 15min and 1hr TF
As a bonus, Shorts are near ATH on Finex and when they are forced to close we might see a rather large short squeeze. Thinking of adding to my long on a dip, will update this thread but in the meantime I will be watching the 15min and 1hr TF