key margin pressure levels
Updated
i'm still leaning short here, but looking at current margin pressure levels to get a better idea of where price might find support/resistance.
next, i'm expecting we'll test the key support around
31K where the H&S neckline, the minor down trend line, and the 4x selling pressure level intersect.
if price finds support there, we've got more than enough recent history of support/resistance levels within the range.
if price breaks down from there, next stops would be 27.5k and 24.5k-25k.
if bulls rally, we could see a retest of the major down trend line.
margin pressure levels:
short (41.34k resistance) = dotted lines
long (28.6k support) = solid lines
red = 10x
fuchsia = 7x
orange = 5x
yellow = 4x
green = 3x
blue = 2x
next, i'm expecting we'll test the key support around
31K where the H&S neckline, the minor down trend line, and the 4x selling pressure level intersect. if price finds support there, we've got more than enough recent history of support/resistance levels within the range.
if price breaks down from there, next stops would be 27.5k and 24.5k-25k.
if bulls rally, we could see a retest of the major down trend line.
margin pressure levels:
short (41.34k resistance) = dotted lines
long (28.6k support) = solid lines
red = 10x
fuchsia = 7x
orange = 5x
yellow = 4x
green = 3x
blue = 2x
Note
moment of truth. should be an interesting week.
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