Bulls could be overextending..

We have had an immense pump off 40% in 2days!
This could be an indicator for some more uptrend..
To be honest I’ll stay a bid bearish still..

I’ll be waiting with entering a position until the trend further develops..

We need to have a close above the old ascending support line and hold above that to stay bullish..

For the bulls it would be great to close a weekly above the 21EMA..
I think if we close above the 21EMA it could drop towards the 21EMA to test for support.

I might be opening a long there if they test it.
If it breaks I’ll short again..

It can really can both ways now... but not convinced this 2 days pump is sub stainable

Also watch out for the death cross on the daily chart. It still happened and this could be washing out piled up shorts..

For me I want to open a long near the 21EMA next week if they can hold..

To open a short is around the old upcoming support.