7400 looks to be a short term critical point as it intersects pivot, 20MA, 50EMA, and previous support/resistance. I expect a short-term bullish run if it closes above 7400 on 4HTF.
If the two charts were to move in a similar way, we'd have a long way to go before a bull market begins. If history repeated itself, a bull market should have started by now, about six month prior to halving. However all major MAs are still inversely arranged on HTF and it'd take a really really strong bullish momentum to break through all the MAs pressing down...
I am bullish in the short term until it reached next resistance level of 8700. Even if it breaks above 8700, there'll be a strong resistance round at 200 ema.
