Showing the 25 week moving average (blue) which we are currently testing
Showing the 30 week moving average (red)
odd moving averages... I know
Showing bull market support band (which we broke under)
Purple line is just a general upward trendline
Blue boxes show where there will be high amounts of buy orders
Green box shows strong resistance. The next time we reach this zone we should see new all time highs
Without a doubt in the short term we are in the midst of a correction. Take screenshots, enjoy and share your loss porn for the time being. At the moment all we can do is try to predict how low can it go and take advantage of buying opportunities.
First major support is in the ballpark of 43-45k and we are currently seeing if we hold
Support can be found at 40k as a psychological price.
Overall looking for a wick below purple support line and 30 week moving average around $38k. Although a wick to as low as 32k wont be surprising.
If we dip below 38k I cant imagine nobody buying up that dip... That would be insane, especially with the amount of people saying "100k this year, 100k this year!"
Showing the 30 week moving average (red)
odd moving averages... I know
Showing bull market support band (which we broke under)
Purple line is just a general upward trendline
Blue boxes show where there will be high amounts of buy orders
Green box shows strong resistance. The next time we reach this zone we should see new all time highs
Without a doubt in the short term we are in the midst of a correction. Take screenshots, enjoy and share your loss porn for the time being. At the moment all we can do is try to predict how low can it go and take advantage of buying opportunities.
First major support is in the ballpark of 43-45k and we are currently seeing if we hold
Support can be found at 40k as a psychological price.
Overall looking for a wick below purple support line and 30 week moving average around $38k. Although a wick to as low as 32k wont be surprising.
If we dip below 38k I cant imagine nobody buying up that dip... That would be insane, especially with the amount of people saying "100k this year, 100k this year!"
Comment:
Target point met ✅