People were surprised when we bounced off the bottom of the channel (on 6/19), and now they’re surprised that we bounced off the top. It seems like we always try to attach a narrative to explain these moves. But, in my opinion, the pullback was both obvious and inevitable from a technical standpoint. I was expecting the price to hit closer to $11 before pulling back to the $5 range (and I expected the pullback to take more than 8 minutes to unfold), but in retrospect, all this makes sense in the context of the speed and strength of the recent rise. My paper wealth may have taken a hit today, but I’m not at all confused or troubled by the price action.