I am still bullish. A retracement is healthy and allows for people to jump back in so long as they actually pull the trigger.
~0.0029 coincides the bottom of the channel (0.001200 thru 0.001904) with the 38.2% retracement (0.00097 to 0.0042).
That's a pretty strong package, but it if breaks, then the 50% retracement sits at 0.0025950.
(We don't want the 50% marker to break as that would be a technical reversal of everything built from 0.0009.)
No way we break 300k.
At least we're on the same page now, albeit two weeks out.
Having said that, the 50% marker is clearly done - too late for it to be a useful indicator.