If we close today on 38.4K we will switch supertrend daily back into bearish.
That is pretty unfortunate as that makes for only 2 weeks of uptrend and confirms 45K was only a relief rally and many players used it as an exit.
I'm short for the short term but I'll remain very vigilant to how things evolve from world news.
We saw how positive news about Ukraine provided a small oasis that catapult the price into 45K zone.
And that gives us an idea of how big of a U-turn to the upside we could see if the bad news were discarded.
I still think we will see a few months of pessimism in the air.
That is pretty unfortunate as that makes for only 2 weeks of uptrend and confirms 45K was only a relief rally and many players used it as an exit.
I'm short for the short term but I'll remain very vigilant to how things evolve from world news.
We saw how positive news about Ukraine provided a small oasis that catapult the price into 45K zone.
And that gives us an idea of how big of a U-turn to the upside we could see if the bad news were discarded.
I still think we will see a few months of pessimism in the air.
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