If we take a look at the moving averages on the market, it's clear that the 50DEMA was supportive (base-line) for the market until we reached the 64k top. After the initial crash the market drifted below the 50DMA (red line) then we had a pullback (retest). This could be a sign that from now the 50DEMA could act as a resistance instead of a support. But no worries, the 200DEMA is right there to save the bullish momentum. A lot of people sent me a few comments that the market is going up, this is one of the reason that I am shorting right now.
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So far so good.
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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.