Let's zoom out a bit on the weekly chart in order to use the Pitchfork.
In the last days, cause of the bullrun caused by FOMO, we retested MA50 and also we re-entered in the Pitchfork channel.
So why I say that we still are in a bear market?
As you can see, bulls were rejected by MA50 and we are probably going to close below the channel this week.
If this is going to happen, prepare yourself to another huge dump.
P.S: Don't forget also about the death cross happened some weeks ago between the MA20 and MA50.
4k is my target.
The above references an opinion and is for information purposes only. It is not intended to be investment advice.
In the last days, cause of the bullrun caused by FOMO, we retested MA50 and also we re-entered in the Pitchfork channel.
So why I say that we still are in a bear market?
As you can see, bulls were rejected by MA50 and we are probably going to close below the channel this week.
If this is going to happen, prepare yourself to another huge dump.
P.S: Don't forget also about the death cross happened some weeks ago between the MA20 and MA50.
4k is my target.
The above references an opinion and is for information purposes only. It is not intended to be investment advice.