40K is the level to claim for Bullrun confirmation - learn why
Hi all, just take a look at previous bullruns and draw a line 40% from the bull run top. That is more or less the level that needs to be claimed before speaking of a bull run.
But, what you also see is a retracement at first touch of approx 30-60% in previous runs. This leads me to think that we can now easily see a run up to 40K and then seeing a retracement back to these levels of 29/30K before going claiming the 40K level and upwards into bullrun territorium.
So don't be fooled that going to 40K with an ETF approval is confirmation of a bull run.. it won't be! It will be perfect fuel to kill longs, and the big boys to go shopping at 30K before a real bull-run is starting.
But, what you also see is a retracement at first touch of approx 30-60% in previous runs. This leads me to think that we can now easily see a run up to 40K and then seeing a retracement back to these levels of 29/30K before going claiming the 40K level and upwards into bullrun territorium.
So don't be fooled that going to 40K with an ETF approval is confirmation of a bull run.. it won't be! It will be perfect fuel to kill longs, and the big boys to go shopping at 30K before a real bull-run is starting.