SPY BEAR
Jacky found it not me, credit to him
The description is that the grey line of 2021 is the blue trendline of 2024 bull run, the yellow line goes back to 2008 peaks. same case scenario, the bull run has peaked just above the 2008 yellow trendline and then when broke below the orange cloned trend line of 2024 bottoms, it made bear Aadi, support/break/resistance on yellow trendline, which can be called as the bull traps of 2022, everything is explained
if you want to go a step further ,PVTO looks bearish with this increase after the last bottom hit on the orange line deemed unsustainable.
1month PVTO looks worse aswell settting up for a big downtrend, reminds again of the same candle in the same postion explained above on dec 2021 bull run top.
when u see this look at the daily PVTO and price action of now and dec 2021 peaks, PVTO failed to keep itself above red incredible lines i must admit. orange line support, grey line resistance, one orange line breaks, we find 3 times resitance on yellow line before breaking further, bull traps.
thank you, god is king
The description is that the grey line of 2021 is the blue trendline of 2024 bull run, the yellow line goes back to 2008 peaks. same case scenario, the bull run has peaked just above the 2008 yellow trendline and then when broke below the orange cloned trend line of 2024 bottoms, it made bear Aadi, support/break/resistance on yellow trendline, which can be called as the bull traps of 2022, everything is explained
if you want to go a step further ,PVTO looks bearish with this increase after the last bottom hit on the orange line deemed unsustainable.
1month PVTO looks worse aswell settting up for a big downtrend, reminds again of the same candle in the same postion explained above on dec 2021 bull run top.
when u see this look at the daily PVTO and price action of now and dec 2021 peaks, PVTO failed to keep itself above red incredible lines i must admit. orange line support, grey line resistance, one orange line breaks, we find 3 times resitance on yellow line before breaking further, bull traps.
thank you, god is king
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