😤 $Bax needs a heavy breather

Analyzing #babb or $bax on multiple time frames, it's clear that a retracement or a major pullback is necessary.

Pretty much on every time frame it's heavily over-bought, i'm not talking about just 80. $Bax is currently hitting like 98-99 ish even on

the higher time frame's, i also caught that there's a major hidden bearish divergence on the higher time frames( 3D and weekly), which is significant

because me that tells me the overall trend will continue, which would be downward. $Bax has made a nice run thus far, but it's clear

that it needs to cool off since, again it's pretty much maxed out on the higher time frames. When it finally retraces

i'm expecting a huge retracement to fill in the gaps and imbalances that are left in the market.

Long-term i am bullish on $Bax, but it will have a significant retracement.

That's when i'll look to get back into the market.

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likely scenarios for bax.

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8.20.23 (update on BAX will be making a video on it later)