Price failure - back to bear

The price failed at $420, a very bearish signal. We may be headed for new lows in the coming months. The price retraced 100% of the parabolic move and is in the process of stair-stepping its way down. This lines up with the approaching bear moon, indicating further bearish price action with no evidence that the trend will stop short of a new low.

I may wait for a small retrace here and then enter a short position. with the first target in the $350s.

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