We already had a pullback from .0161- don’t need another one! We have already churned target sellers out of .014s- Now MMs are trying to shake a few guys that bought higher this morning IMO. That’s why they gapped it up premarket
No one likes to see red, however a red day and support test can be good for the overall strength of a chart as it allows it to cool and solidifies support giving people confidence that the price will not collapse
That is the whole idea behind the stair step pattern, cannot stair step without a red day