$CIFR 20260821 16.0 PUT$ Scaling in with 5 puts first instead of the usual 10 contracts. I'm anticipating that the bottom should be round the corner, but being cautious about it in case it falls further.
15.39 is the previous all time high in 2021, will retrace back to this level? Or is the recent low of 16.13 enough?
The top of the weekly Ichimoku cloud is at around 15.70 which coincides with the 0.5 Fib (from the all time high to the all time low).
Either way, multiple confluences point to the 15-16 level, hence it should be the end of this retracement? Nothing's for sure, so fingers crossed! 🤞
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