As you all know, the price failed to overcome 64500 and went into correction. We see Money Flow falling rapidly and it seems that the fall to 62000 is imminent. However, the market will definitely want to punish the brazen shorters and may try to test our resistance a bit more.
Soon after that, we expect a hard, high volume supported fall to the next boundary of the rising wedge, coincidentally also falling into the Fibonacci Retr - with a small wick to punish as many longs as possible.
We then continue along the channel to reach the top of the bull flag to punish the $9 billion shorts.
Soon after that, we expect a hard, high volume supported fall to the next boundary of the rising wedge, coincidentally also falling into the Fibonacci Retr - with a small wick to punish as many longs as possible.
We then continue along the channel to reach the top of the bull flag to punish the $9 billion shorts.
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