“The sentiment is positive and we should see a further upswing in the future but most probably we will see a bearish correction here first. „
So the bearish correction was and is happening. At the very beginning, it was controlled by the buyers and was shaped like a harmless pennant (pink lines). As long as the price was inside of this formation, the buy signal was on. Unfortunately for the buyers, it all went out of control yesterday and today. At first, the price broke the mid-term up trendline (black) and then, the lower line of the pennant. Those two supports being gone is a major sell signal so there is no surprise that the price is falling like a waterfall at the moment. We already managed to retrace the 50% of the recent downswing and it does not look like this is the last word of the supply.

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