Can you see the long lower wick on yesterdays candle (5-July)?
➖ Unsuspecting onlookers can take this as a strong reversal signal.
➖ Beginners can see this as a sure recovery.
➖ Wishful thinkers can consider this the end, because it was a "very strong drop."
People can make all sort of excuses in order to support their bias... And that's ok, we understand.
Yesterdays session produced the highest sell volume since March.
After more than three months of sideways consolidation, the breakdown confirms the distribution phase.
👉 The high volume confirms the start of a major bearish move, not the end.
The long lower wick indicates that support is being removed.
On the next drop, it will go through this level much easier, much faster... Much lower.
I hope you find this information useful.
Namaste.