Yes guy we gained some short-term levels. We are for now Ok. What we need to do now is, gain that 39k - 40k level. And we will go higher to 45k. But if we get there a rejection, we will end not well. I post now a Weekly chart. You can see here that we have buyers in this 31k zone. I bought also SPOT for long-term. If we close this week also above 30k - 33k that will be positive and we will go higher. This is the scenario for now. I will update if there change anything. Keep youre money safe ! :D
We have had a weeky close below the EMA 21, the bull market is over!
OutlawWarriorX
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Hello @Hughesey80, first of all i am a price action trader i am not watching EMA or MA. But i know what you mean. To say that bullmarket is ended you need to lose some contruction. If you see it on weekly what i post. We are now holding the Higher Low construction. If we hold this one. We will have still a upside potential. But if we lose this one. I will go with youre idea. If you look to MA 200 on daily you can see in past it comes always in touch with the line. It doenst matter of it will go lower or higher it will touch each other always. We are now going for a test to 39k - 40k range. If we close there above that level a daily candle. We wil continue the bullmarkt. You can't say now that bullmarket is finished. You need to watch sometime to bigger picture.. and thats what i am showing you. Bigger picture says we are not finished yet. Have a good day :D
Hughesey80
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@OutlawWarriorX, the market structure was already compromised when it corrected from 65k down to 48k,the lower high created after that point cemented the decline. The bears had control from that point onwards, the bears are still in full control. No bullmarket has ever resumed once we had a weekly close below the 21 EMA, you should pay great attention to the EMA's, most pro traders do.
OutlawWarriorX
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@Hughesey80, Everyone has his own strategy and this is mine, i don't use any indicator.. only tools for confirmation's. These what i am sharing are my scenario's. I don't care about what other traders do or says. I make my own analysis. Yesterday we lost 10% and we are nu 10% up again. That will tell us only that people are buying this dip. And correction's will be always like this. Look all pumped assets, there will come always a correction like this. But when i am following my strategy it tells me that we need to gain 39k - 40k to continue our journey to 100k. If we not gain someting, we will lose the momentum and will go lower. Time will tell us the truth, it's now to early to speak about higher prices or lower. :D Have a good day.