Hey everyone. Wanted to re-evaluate my chart from both a bearish and bullish perspective. We are at a crossing point right now on the daily MACD. I have a yellow dotted line, which signifies my warning zone. This warning zone could be the bottom from this run, but in my experience of bear markets it’s more likely we move a notch down. But bull markets are about buying dips. I have no doubt about us being in a bull market but 30-40% corrections in this space are still common.
If the Dotted yellow line breaks we will simply move down to the bottom two green lines. I would say that the most likely outcome is we hit the green trend line at $9250-$9500 range. The lowest I could see is Wicking down to is around 8.8k. This also happens to be the 50 day moving average. Anyways, just wanted to share my thoughts.
If the Dotted yellow line breaks we will simply move down to the bottom two green lines. I would say that the most likely outcome is we hit the green trend line at $9250-$9500 range. The lowest I could see is Wicking down to is around 8.8k. This also happens to be the 50 day moving average. Anyways, just wanted to share my thoughts.