short insight here. As you can see, our previous bottom before dropping to 3k at the end of 2018 has become our triple bottom and the uptrend has now carried through. We have moved equal volume as the run up in July 2019 and our 50MA is is looking to get with that 200MA to make sweet love.
I believe we will fall to 8.2 - 8.3 k to find our support levels from Sept/Oct 2019, and that may be when we see a golden cross form, which will carry us to 10K. Anything after that is not worth speculation, I dont believe we have much game in 10K yet, and anything moving back up that high will just for a 3rd top on a very large time frame.
Remember, look at the bigger picture. (Get off the minute charts, ya clowns.)
Cheers,
-Money
I believe we will fall to 8.2 - 8.3 k to find our support levels from Sept/Oct 2019, and that may be when we see a golden cross form, which will carry us to 10K. Anything after that is not worth speculation, I dont believe we have much game in 10K yet, and anything moving back up that high will just for a 3rd top on a very large time frame.
Remember, look at the bigger picture. (Get off the minute charts, ya clowns.)
Cheers,
-Money
Comment:
side note: Also, in april of 2019, we showed that we will happily consider 55-60 RSI as oversold on the daily. As you will see, we have capped the expected overbought range, which may play to my 8.3k projections, however I firmly believe we will fall no lower than 50RSI during our descent. Keep your eyes peeled, lads.
Comment:
Remember, our 50MA is seeing less and less of our downtrend late 2019, soon it will only be averaging our first bottom around November, at which point it will make great strides to catch up with the times. By that point, we will have began our downtrend to low 8.3 k where it will meet us for long term support.
As you can see, we have just hit our heads on the lovely ceiling the 200MA has painted. Draw your resistance there.
As you can see, we have just hit our heads on the lovely ceiling the 200MA has painted. Draw your resistance there.