This is my opinion on how euphoric trends finish. You can see similar logic in the comments of my linked article on the oil market bottom in 2015, and also the comparison chart shown here. When a trend compresses and becomes crazier and crazier... that's the candle you're looking for.
Though being real, I've been bear for quite a long time on this market. Bit too early, #weakhands. But this is just ridiculous. We need to cool off for a while. Not to mention end of year positions closing.
Dip buyers should start preparing.
7000 to watch
Buy the dip, average down your spot buys. I'm 50% deep
Margin long capitulation is all I'm watching now
Price is in freefall, capitulation candle. Shit is getting spicy
50% scaled out of the posistion, daily RSI has broken out, quarterlies out of sellers after closing into the margin short liquidation.
All out, thanks for the ride.
now it's 75