Don't get me wrong: there are MANY reasons to be bearish right now, most of them moving average-based. But I just realized that we are, at least for now and assuming the current four day candle closes (in about an hour) above 8,000, finding support on the 89 EMA on the four-day chart.
If you look back, you'll see that was the moving average that we broke above and then found support on at the start of the 2016-2017 bull market, and also one of the various moving averages that seems to govern us being in a bull vs. a bear market and the one that we broke through to kick off the bull trend earlier this year.
If you look back, you'll see that was the moving average that we broke above and then found support on at the start of the 2016-2017 bull market, and also one of the various moving averages that seems to govern us being in a bull vs. a bear market and the one that we broke through to kick off the bull trend earlier this year.