Establish ultra support in the 30's, test mid 20's, or spook the market with a sub 20k bear trap.
These are the three scenarios I am considering.
Listed in order of what I see as most probable:
1)
Sub 20k bear trap would actually make sense...as it would cause maximum panic in the market and shake out a high percentage of 2021 positions.
2)
30k support is second most likely scenario, lots of price action off 30k support and it coincides with some important fib levels
3)
Test of mid 20,000's is the third most likely scenario in my opinion. So many people thinking this will happen makes me think one of the above two scenarios is more likely. Furthermore the gap from 30k down to 20k looks like open air to me.
These are the three scenarios I am considering.
Listed in order of what I see as most probable:
1)
Sub 20k bear trap would actually make sense...as it would cause maximum panic in the market and shake out a high percentage of 2021 positions.
2)
30k support is second most likely scenario, lots of price action off 30k support and it coincides with some important fib levels
3)
Test of mid 20,000's is the third most likely scenario in my opinion. So many people thinking this will happen makes me think one of the above two scenarios is more likely. Furthermore the gap from 30k down to 20k looks like open air to me.
