Chart, page-3154

Structurally this chart is pretty broken and not something I'd be willing to trade.
The distribution campaign looks to have concluded due to the change in structure, but the volatility and no clear path forward is statistically a difficult bet. Best case scenario for me would be further ranging and accumulation by the market maker with a contraction in volatility along the 30week ema and some obvious rejections of lows. A decent shake out looks to be a few weeks away in this scenario too.



Equilibrium/price agreement is looking to be a place of support or where a large position is taking shape. Price breakouts get faded by auction market theorists and more advanced algos like to engineer liquidity (creating swing highs and lows for likely stops to be positioned).
Unsure what news events have caused the wild swings but it hasn't fallen apart completely so someone is willing to continue their campaign.



Bios are a difficult trade with lots of shady players with superior information edges but more importantly deep pockets and long time horizons. The speculative end, in my opinion, demands some very sound understanding of the science if you're in for the long haul, or some good short/medium term technical trade skills.