𝐓𝐄𝐒𝐋𝐀 𝐇𝐀𝐒 𝐑𝐄𝐂𝐎𝐕𝐄𝐑𝐄𝐃 𝐁𝐀𝐂𝐊 𝐈𝐍𝐓𝐎 𝐓𝐇𝐄 𝐂𝐇𝐀𝐍𝐍𝐄𝐋!
A 30% correction in price seems to have shaken out enough hands to bring willing buyers back into the fold. Last week, we suggested that a break of the falling resistance was a good indication of the trend turning back bullish, and now that has occurred we can be - cautiously - optimistic about a return to 'normal' (if there is such a thing anymore).
$800 will probably act with some level of resistance, so there is a potential for this to be a fakeout - so we still need to watch carefully until we get a few closes above $800.
A 30% correction in price seems to have shaken out enough hands to bring willing buyers back into the fold. Last week, we suggested that a break of the falling resistance was a good indication of the trend turning back bullish, and now that has occurred we can be - cautiously - optimistic about a return to 'normal' (if there is such a thing anymore).
$800 will probably act with some level of resistance, so there is a potential for this to be a fakeout - so we still need to watch carefully until we get a few closes above $800.
