Buyers continue to struggle against intensifying selling pressure. Every attempt to stabilize the market is met with a strong sell-off, pushing the price lower and lower. At this point, buyers show no signs of regaining control.
The price is clearly expected to continue its downward movement in the near term, likely completing only the first wave of an emerging bearish cycle. After a corrective phase, the price is expected to decline even further.
Therefore, previously opened short positions should be held, and new sell positions should be considered whenever possible.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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