My bearish scenario based on non-logarithmic trend channels and potential entry price targets.
Considering i.a. Volume of last price movement, Open Interest I think that is a Bull Trap and we might have reached the local top.
L1 - Historically 200 Weekly MA acted as a support
L2 - Capitulation of a previous bear market (attack on miners profitability)
L3 - Previous ATH which haven't been tested yet (matches with 0.618 Fibonacci Retracement)
L4 - Potential worst-case scenario bottom (matches with 0.702 Fibonacci Retracement)
Have in mind that below $4000 mines are...
