Here we see what i have mentioned in the previous posts. we had to break the solid 46.5k support to reach the bottom of this channel.
We have not quite yet confirmd support back above that level and could still go lower and re-visit the bottom of the channel.
On the 1D we officially closed the first time below the 200 MA during this dip, alot of people said that this would confirm the bear market, but we are still holding support avove the 1 year trendline that was formed when we confirmed the break above the 2017 20k ATH and went on to make new ATH until the most recent one last month at almost 70k. (See my previous posts on the 1d and 1w)
You can see the trendline clearly in my previous post where i drew a line connectinng the wicks and another one connecting the bodies. To save you some time my estimated low would be 40k to 37k and after that we would rally to new ATH(s).
So in short, i'm not panicking about the 200 MA as it was broken the last couple of times before it eventually bounced from our trendline. I see it more as an opportunity to accumulate at a lower price point.
Give me a like and leave me comment if you want me to post a video about it.
We have not quite yet confirmd support back above that level and could still go lower and re-visit the bottom of the channel.
On the 1D we officially closed the first time below the 200 MA during this dip, alot of people said that this would confirm the bear market, but we are still holding support avove the 1 year trendline that was formed when we confirmed the break above the 2017 20k ATH and went on to make new ATH until the most recent one last month at almost 70k. (See my previous posts on the 1d and 1w)
You can see the trendline clearly in my previous post where i drew a line connectinng the wicks and another one connecting the bodies. To save you some time my estimated low would be 40k to 37k and after that we would rally to new ATH(s).
So in short, i'm not panicking about the 200 MA as it was broken the last couple of times before it eventually bounced from our trendline. I see it more as an opportunity to accumulate at a lower price point.
Give me a like and leave me comment if you want me to post a video about it.