Price has been bouncing up off the support trendline ever since mid January.
The trendline is a valid 4h trendily because even though the wicks reach below it, price never closed below, the bulls reversed it.
Now, on the very last 4h candle of the last trading week, sellers pushed price below the trendline and the candle closed.
I take this as confirmation of a reversal into a bearish market.
The trendline is a valid 4h trendily because even though the wicks reach below it, price never closed below, the bulls reversed it.
Now, on the very last 4h candle of the last trading week, sellers pushed price below the trendline and the candle closed.
I take this as confirmation of a reversal into a bearish market.
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Told y'all.
