As you can see, on the previous rally we touched the trendline before making major movement down.
Nothing is suggesting that this time will be different.
A bounce from here will fit fine on the RSI trendline.
If the bounce from here is confirmed (break of $280 and stabilization around $270), the target is $305-$315 level.
But a breakdown of the 250 level could be fatal for the bull trend, i expect a retest of $220-$230 level before heading to $200.
Nothing is suggesting that this time will be different.
A bounce from here will fit fine on the RSI trendline.
If the bounce from here is confirmed (break of $280 and stabilization around $270), the target is $305-$315 level.
But a breakdown of the 250 level could be fatal for the bull trend, i expect a retest of $220-$230 level before heading to $200.