As long as the price stays above the 100EMA we are comfortable and we can target $54,000. Once that level is hit we will need to review to determine the strength of the move.
If price falls through the 100EMA and it can’t hold above, expect a quick drop to the 200EMA. If this happens a dip to $42,000 is not out of the question as overleveraged longs are liquidated.
Your risk, your reward. This is not financial advice.