$BANK has fallen 96% from its peak. Those still holding it probably barely open their accounts anymore. It’s not that they can’t bear to lose that little bit of money; they just don’t want to admit they got it wrong.
This week feels a little different: the downtrend line that had held for most of the past six months was briefly broken seven days ago, then firmly reclaimed. Short-term highs and lows are starting to move up, and the 0.0233 level hasn’t given way again.
I can’t say for sure that this is the bottom, but a drop that gets bought back up is more convincing than any story. If you’re still holding, wait for a decent bullish candle.
This week feels a little different: the downtrend line that had held for most of the past six months was briefly broken seven days ago, then firmly reclaimed. Short-term highs and lows are starting to move up, and the 0.0233 level hasn’t given way again.
I can’t say for sure that this is the bottom, but a drop that gets bought back up is more convincing than any story. If you’re still holding, wait for a decent bullish candle.
