We are currently trading on top of the 50 4HR MA containment zone (cyan) and under the 500 1D MA (red) & 100 4HR MA (blue) which creates the squeeze we are currently experiencing.
The 100 4HR MA will push us down through the 200 4HR MA (purple) cointainment-zone and start our next downtrend to 100 1W MA around 4.8k - 5k ish.
The 100 4HR MA will push us down through the 200 4HR MA (purple) cointainment-zone and start our next downtrend to 100 1W MA around 4.8k - 5k ish.
Comment:
Sorry, forgot to add the lower part of the 200 4hr MA cointanment zone. Updated chart:
Comment:
I have exited my short position for now:
I still believe we are going down long term, but short-term (2 days) we could see a short-squeeze.
I still believe we are going down long term, but short-term (2 days) we could see a short-squeeze.