Complacency Before the Fall? Bulls in Control, But For How Long?Yesterday, I was debating whether last week’s consolidation was a rectangle (suggesting continuation) or, in fact, a triple top (hinting at correction). I began the session with a slightly bearish bias, but the reversal from support and the subsequent breakout above the consolidation’s resistance forced me to reevaluate. The breakout was clean, momentum followed, and the market even printed a new ATH at 3689.
Unfortunately, my pending buy order wasn’t filled, so I remain flat for now—an important reminder that in trading, sometimes discipline keeps you safe, even if you miss an opportunity.
Technical outlook:
• Price broke above resistance, confirming bullish control.
• The 3660 zone now acts as key support—any dips into that area can be treated as potential buying opportunities.
• The measured target for this breakout points toward 3710, which could represent the next objective for the bulls.
But here’s the psychological twist:
The market feels euphoric and complacent at this moment. Historically, reversals from this type of mindset tend to be brutal. Traders get comfortable, start believing in endless uptrends, and that’s exactly when the trapdoor opens.
Medium-term, I still anticipate a significant correction. Timing it is always the hardest part, but acknowledging the risk helps keep emotions under control. For now, bulls clearly hold the wheel—but they may not realize they’re driving toward a cliff.
🚀 Stay sharp, trade the trend, but don’t forget that markets punish overconfidence.
