Bears have been reaching targets and finally breaking the low end of the floor ( 33k ) for the first time since 2020.

I am still very bearish with a potential all the way down to 12.5k. The only major hurdle in the way is the potential 20k line (not shown as it is over 4 years ago and unknown if still relevant).

However we are at a battlegrounds line as it is – 29k . It could rebound here and enter into neutral territory. It could also just as easily rebound and crash back down further with the volatility . I personally will be staying away from Longs and the bulls until I see a more decisive flip. Even if we reach past the neutral zone, it will still take convincing as volatility in the short term would be very high.