Been watching & drawing the same thing since Feb.
Prepared for relief back to $69K soon, followed by continuation to rounding bottom.
https://t.co/pzDT0kRS1j
https://t.co/nmc73d88oz
If you were an immortal vampire, and you made a million dollars a day since Pompeii was founded 2700 years ago,
You would be just barely ahead of Musky as wealthiest man, and you wouldn’t quite have a trillion yet.
Conclusion:
Step 1: Assume rejection is likely
Step 2: Don’t assume duration
Duration depends on what breaks, not that it breaks.
Step 3: Watch behavior after rejection
Fast reclaim == Bullish fakeout
Chop below == Medium bear
Cascade + no bounce == Long bear risk