To me it seems inevitable to go down before going any higher. Bulls look determined to charge but they also look exhausted at the moment. After 10 days and two failed attempts to break higher, third time's not a charm. Bulls will have to retreat somewhere around 6500eur as to regroup. In the meanwhile, I feel that a benevolent whale will join their cause, and their combined powers will overcome bears resistance at 8200 eur. More bulls will join the charge in ecstasy, and altogether will rally to an all time high concluding some time in early June.
To me its obvious that without a whale's help bulls are doomed, but I have a strong feeling that the cavalry is on the way.
So, as in life, things will have to get worse before getting better. Lets see how it plays out.
Disclosure: Please be informed that information I provide is NOT a trading recommendation or investment advice. All of my work is for fun purposes only.
To me its obvious that without a whale's help bulls are doomed, but I have a strong feeling that the cavalry is on the way.
So, as in life, things will have to get worse before getting better. Lets see how it plays out.
Disclosure: Please be informed that information I provide is NOT a trading recommendation or investment advice. All of my work is for fun purposes only.