BIT Charting, page-455

Interesting interpretation on the bollie, to me when the lower band reverses it signals decreased volatility as evident in the volume drop, it's a volatility indicator after all.

I do agree however, current outlook is bearish from a chart perspective, in fact at current prices anyone who bought after Jun-2022 would've been in the green these past 2 weeks, it makes sense to at least lock in some profits, which is what we're seeing this past week in my opinion.

Personally, I would like to see it re-test the fib levels (red zone) which happen to coincide with a previous resistance level. A bounce from this level and there's a good chance it'll run towards the 10c mark again.

A sustained bull trend should always see SP retraces back to support zone before buying kicks in again, it's healthy price action. People like to compare this to the 2018 run, but has anyone pointed out the retracement of the first leg up in 2018 also hit similar levels before it rebounded?

Oct-2023


Oct-2018


Regardless we should find out "in the very near term", GLTA

Hez