Buy the dip
Updated
As above so below.
Nothing goes ever straight up or down.
We are in a possible medium term bounce zone. Bull market still intact, as we stopped right at the 200 daily MA.
We are also stopping at the .50 retracement from low to high 3k-14k.
This is also the heart line of the downward channel from 14k.
Oversold on daily
15m just broke above emas
We may have a temporary or long bottom here.
We can always reverse back up and close a weekly candle above the 21 ma (~9800 at the time of writing).
Even a close below doesn't forego a reversal, as weeks later we can return to it.
Watch the 200 daily. Thats our support we don't want to close below that.
If we do, we increase our risk of a deeper retracment, support levels highlighted by the red lines.
Most important area would be 6xxx, as if we broke that the bull market would be unrecoverable.
Nothing goes ever straight up or down.
We are in a possible medium term bounce zone. Bull market still intact, as we stopped right at the 200 daily MA.
We are also stopping at the .50 retracement from low to high 3k-14k.
This is also the heart line of the downward channel from 14k.
Oversold on daily
15m just broke above emas
We may have a temporary or long bottom here.
We can always reverse back up and close a weekly candle above the 21 ma (~9800 at the time of writing).
Even a close below doesn't forego a reversal, as weeks later we can return to it.
Watch the 200 daily. Thats our support we don't want to close below that.
If we do, we increase our risk of a deeper retracment, support levels highlighted by the red lines.
Most important area would be 6xxx, as if we broke that the bull market would be unrecoverable.
Note
Long term bottom here.*Note
4 hr Mac D bullish divergence4 hr RSI Bullish divergence
4 hr MFI bullish Divergence
We gonna bounce here.
below 8k was a bear trap.
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