Cypher near the 2.618 off Dec. Distr.

Bullish cypher near the 2.618 downside extension from the December distribution. Eyeing bounce to 275-277 as a decision point.

Rejection from 275-277 would imply further downside, will re-evaluate there. Should see explosive upside to the 275-277 in coming weeks.

Minor accumulation around current level.