We ended the week as best we could.
On the weekly, a very large candle that violently broke the wedge, a very bullish signal.
As we can see in the Daily, we also broke the 200-period moving average which we know is one of the biggest resistances in these phases and we can now use it as a support at the price that fluctuates from 44.5k to 45k.
Personally I am hoping for a wedge retest or a new test of the MA 200 to give further strength at the start of this uptrend.
ATTENTION to the BULL TRAP, which have often accompanied us in these phases.
To remove this doubt we should retest the supports at 45k and then resume the run towards 50k. (RSI: Overbought)
What do you think?
On the weekly, a very large candle that violently broke the wedge, a very bullish signal.
As we can see in the Daily, we also broke the 200-period moving average which we know is one of the biggest resistances in these phases and we can now use it as a support at the price that fluctuates from 44.5k to 45k.
Personally I am hoping for a wedge retest or a new test of the MA 200 to give further strength at the start of this uptrend.
ATTENTION to the BULL TRAP, which have often accompanied us in these phases.
To remove this doubt we should retest the supports at 45k and then resume the run towards 50k. (RSI: Overbought)
What do you think?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.