If you attempt to approach this situation thinking as an institution or MM that wants to load up on a long position, this all makes sense.
What an upset to ruin the cup and handle, pennant, and golden cross.. an upset I imagine a lot of day traders and technical traders did not stick around to hold onto by this point.
It's taken a while but I think we finally bottomed today. It was quite a large swing but now we've scraped all the weaklings off and they can once again start buying at large volumes to load technical seekers and people who are disenfranchised as they take it to the next level.
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