Thought id get the bull case out there too. So here you are.

although this is a Bearish structure, this gives an opportunity for those that Longed which are now in the red to exit if they choose, also liquidate the late shorters.
Remember where liquidity is ‘they’ will push price there, hence so many accumulation/distribution patterns everywhere on diff timeframes.

Why did i chart this one, well if you check the BLX chart, we have gaps al the way up around 62k, not always all gaps are filled, but there is imbalance which typically price is drawn to.

Best thing to do is wait for accumulation or distribution patterns to form on 15 or 30m tf, this is where you want to enter if not already in any. However i have charted the IH&S (which is reversal accumulation pattern) that is quite possible if they decide to run back into range.

WE DONT RUN THE MARKET, THEY DO – LET THEM PAINT IT, THEN WE RIDE IT. DONT FOMO