Quick shot of the weekly MA's and Bol Bands.
If MA1 (yellow) crosses MA2 (orange) then I think we will AT LEAST revisit support on MA3 (red) which also happens to be around the bottom of the current trend, and may act as support.
I tried to show a logical path using trends, MA's and weekly support/resistance, as well as taking into consideration past price action and current market sentiment for both scenarios.
There is a valid argument to me made for both bulls and bears right now.
So Im in but not all in. Keeping stable reserves for the bearish scenario.
NFA
If MA1 (yellow) crosses MA2 (orange) then I think we will AT LEAST revisit support on MA3 (red) which also happens to be around the bottom of the current trend, and may act as support.
I tried to show a logical path using trends, MA's and weekly support/resistance, as well as taking into consideration past price action and current market sentiment for both scenarios.
There is a valid argument to me made for both bulls and bears right now.
So Im in but not all in. Keeping stable reserves for the bearish scenario.
NFA