Will the bears seize control of the market?

Will-the-bears-seize-control-of-the-market

The NUPL metric is currently positioned near a critical level. Historically, the 0.4 level has served as a significant point of support and resistance.
Data shows that a breach below this level often marks the onset of a substantial downward trend. If the index continues its downward movement, it’s reasonable to anticipate that the bears could take full control of the market. In such a scenario, the price could drop to around $40,000.

However, it’s important to note that the current decline has not yet reached a severity that would definitively indicate the end of the upward trend.