We might retest the prior support level as indicated by the magenta arrow down. If the support holds and we get a double bottom, expect a nice trend reversal. Another scenario is this may have been a bull trap and /or dead cat bounce. If it is...and if the support fails, we could see new lows around $7K.
My hope is we're in an ABC correction as charted. Time will tell. Regardless, I think the long term future is bright. We should be in a bull market by late next week AT THE LATEST...possible as early as tomorrow. Of course, that's just my opinion. I'm not an expert or financial advisor. I do wish everyone the best.
My hope is we're in an ABC correction as charted. Time will tell. Regardless, I think the long term future is bright. We should be in a bull market by late next week AT THE LATEST...possible as early as tomorrow. Of course, that's just my opinion. I'm not an expert or financial advisor. I do wish everyone the best.