I also think that short covering to reduce exposure over the weekend is a thing…
Plus market makers are picking off stops to close short positions they were holding in the expectation that more mismatches between sellers and buyers resulting in increased net short positions for the market makers are coming
We employ algo based tech to analyze the harmonic waveform motion of the securities market globally and as of now, the developed pattern suggests that the rebound back will fail and the move will be lower
Who knows of course and the evolving trend is subject to wild volatility swings and is highly responsive to news…. A relief rally would be a big thing in the event of prospects of peace improving and obviously the opposite is also true
after staging the first attempted rally since 11/17, bitcoin and eth charts are also both negative again following the failed rally and resulting decline back below the trend line last week
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Plus market makers are picking off stops to close short positions they were holding in the expectation that more mismatches between sellers and buyers resulting in increased net short positions for the market makers are coming
jMO
Who knows of course and the evolving trend is subject to wild volatility swings and is highly responsive to news…. A relief rally would be a big thing in the event of prospects of peace improving and obviously the opposite is also true
after staging the first attempted rally since 11/17, bitcoin and eth charts are also both negative again following the failed rally and resulting decline back below the trend line last week