just a more drawn out version of my other charts, wrote most of what you need to know on the chart. theres a slight possibility a recovery bounce occurs off the .236, but i highly doubt it.
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the .236 held a bit longer than i expected, but the decline has officially begun.
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well, we are definitely in freefall mode. if 19k fails as support we are gonna go back to 15k then the retracement will print a harmonic.
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19k didnt fail as support and the price had a nice little bounce, but it seems buying momentum is slowing already. it would be optimistic to call this a right shoulder of an h&s put its possible. that would require the price to climb back to 24 however, and idk if thats likely, we will see how it reacts to trading hours today.
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my sentiment has not changed, despite the recent rally on fed news, i believe the price will correct back soon.