We are currently at the 0.5 / golden ratio resistance levels, the recent spike was the market taking out late shorts. Notice that we are about to hit the last local high as well. I caution anyone to buy here as we may be running out of fuel. Looking at the ichimoku the general trend is also bearish at the moment. I would suggest anyone bullish to wait until this level is flipped, let price break through this resistance and ideally retest this level as support. Don't get sucked into the hype, the market is still generally bearish and inflation is still high. The market may have some relief but wait for confirmation
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