Yeah yeah I know, who roots for number to go down. The Cat Does!
I was really hoping we'd see the 80s before we so price break over 110K.
Reason why? Cus of the liquidity gap that existed between 87k and 77K. Odds were that one day we'd revisit it, thus I rather it happen now then to leg up to say 125K knowing that one day we would likely come down to the 80s.
Instead, we get a buying opportunity here with less to worry about when price shoots back up toward 100K.
NOTE: Obviously a price breakdown is never what we want and who knows how much downward pressure we will get and how long.
What 109K the top? Is this necessary digestion before making new highs later this year?
We will never know until the future comes. Either way I like this scenario better. I'm happy to accumulate in the 80s and 70s if we see it. Regardless of what happens after.
Be interesting to see if price holds the 200 Day MA (yellow line). Closing below that has never really bode well for future price action overall.
The suspense....