If this was to take place, it could be counted as a completed third leg in the wedge which I’ve been discussing recently.

I’m really not satisfied with the price action over this last week; and it really does look to me like a phase of re-distribution -> which is why I’ve put myself on the sidelines for the time being.

Until I can conclusively eliminate this idea, I’ll be 100% cash.

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w5 target = 24k.

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ps. i have this little indicator which has been calling out every single top in this downtrend.
Whenever it clusters the way that it’s doing right now, it has led to a fairly large descent in the days which followed.

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