There is a familiar pattern of short-term rallies that transition into consolidation and collapse in rather spectacular form. All of it happens within a definable channel that goes back to the the very beginning of 2013. I think this is a sign - particularly the last 6-9 months - that there is a short-term mentality amongst the speculative ranks. Should it look like the long-term trend is in jeopardy, this is not the crowd that will fight to keep the market up...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.