- Bullish bias still valid
- Potential shakeout
- On a strong fib (0.5) support at $10.2
- Expected sideway action range $10 - $12
- Wait to see PA, could range up to 0.414 fib level and retest current levels
- Ideally, we want to see S/R flip on 0.414 fib level
- Don't like how the 200 EMA was nuked through
- Could see another leg down but most ALTS are just going through capitulation
- Potential shakeout
- On a strong fib (0.5) support at $10.2
- Expected sideway action range $10 - $12
- Wait to see PA, could range up to 0.414 fib level and retest current levels
- Ideally, we want to see S/R flip on 0.414 fib level
- Don't like how the 200 EMA was nuked through
- Could see another leg down but most ALTS are just going through capitulation