Hello!
I have been watching how these weekly candles close. Last weeks close broke first time the 7 weeks support lows like we can see here. If this weekly candle closes below the previous weekly close I believe we will break 50 ema and go test 29-30k once again.
Let's also look other time frames
If you do take trades, always use stop loss!
Otherwise you will get your ass burned!
-Jebu
I have been watching how these weekly candles close. Last weeks close broke first time the 7 weeks support lows like we can see here. If this weekly candle closes below the previous weekly close I believe we will break 50 ema and go test 29-30k once again.
Let's also look other time frames
If you do take trades, always use stop loss!
Otherwise you will get your ass burned!
-Jebu
Note
Here is the daily chart. Like we can see here 20 ema (yellow) has worked as resistance and we haven't even been able to stay on top of it. The pattern is clearly descending triangle, looks quite bearishNote
Here you can see it even better. Chart is upside downNote
We shall see if the bulls step up around 30k. If not we are going to go get some speed lower. Maybe on 1.618 fib target 22 500, or 20k (2017 highs)
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Related publications
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.