Lower timeframe support has been made and tested!
Next test is to wipe the H&S formation by testing the high. Due to yesterdays strength, I do believe we can easily smash it and get closer to 50K. Just keep in mind that sellers are looming above this point. As yesterdays news fades, so will the hype. In the coming days we should now start seeing drops to trap sellers for energy for the next leg up. This pressure is needed for momentum, but it's also the point where longs get liquidated and can snowball into deep dips. Weak hands then start adding to the selling pressure. Don't get trapped in your longs. I believe yesterday was the day to not care about your entry because the price was always going up. Today and onwards will have more selling pressure. Best of luck
Next test is to wipe the H&S formation by testing the high. Due to yesterdays strength, I do believe we can easily smash it and get closer to 50K. Just keep in mind that sellers are looming above this point. As yesterdays news fades, so will the hype. In the coming days we should now start seeing drops to trap sellers for energy for the next leg up. This pressure is needed for momentum, but it's also the point where longs get liquidated and can snowball into deep dips. Weak hands then start adding to the selling pressure. Don't get trapped in your longs. I believe yesterday was the day to not care about your entry because the price was always going up. Today and onwards will have more selling pressure. Best of luck