This yellow line has been very significant since 2017. For the most part, overtaking this yellow line leads to bullish action with exception to that fake out and capitulation we saw from the March 2020 Covid dump. In the green box we see where this line has acted like significant support and the red boxes display it acting as resistance. The last dump dumped us under the yellow line with no bounce, acknowledgement, or F's given about that line. We have seen a kind of weak bounce and have faced one rejection from that line since the dump. I personally think we have another dump ahead, especially with the pending crypto regulation coming from our well respected Statesman and Commander and Chief, Joseph Robinette Brandon Jr. Before every major move up in the market we first see a flash capitulation dump. If we see another leg down I will expect significant selling to come in and maybe then we will see the bounce. I suppose my bearish bias is bullish sign given how treacherous the marker has been. If we break the yellow line expect what looks like a bull trap then turn into a beartrap on a retest of that yellow line.
What are your thoughts?
What are your thoughts?
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We have popped above the line! we are at a serious inflection point where either a BIG move to the upside occurs or it is faking us out. We see in the past that it has indeed dumped back under the line, however the structure we are in (from 2021 to now) is sitting on top of the bear market structure. If the next move is up it will be significant.
Trade active:
We appear to be finding support on this significant trend line. Fingers crossed we finally get our moonshot or tell my wife and kids I loved them.
