This is an updated Idea from yesterday
Bearish:
1)Reversal of uptrend from 0.618 Fib line at 45,409
2)Loss of Bullish Trend Line
Bullish:
1)Golden Cross Formation of the EMA 50 over 200
New trend:
Look for double Bottom Support off of previous Buyer Support Zone to start new uptrend
IF support isn't found look for a deeper pullback to previous support levels around 36,500
Catalysts:
Several Crypto Themed Superbowl ads for the weekend of Feb 13 are slated to run
- This new uptrend could be the market pricing in these ads
- Watch for a possible selloff during the Superbowl if the market has priced in the catalyst already
Bearish:
1)Reversal of uptrend from 0.618 Fib line at 45,409
2)Loss of Bullish Trend Line
Bullish:
1)Golden Cross Formation of the EMA 50 over 200
New trend:
Look for double Bottom Support off of previous Buyer Support Zone to start new uptrend
IF support isn't found look for a deeper pullback to previous support levels around 36,500
Catalysts:
Several Crypto Themed Superbowl ads for the weekend of Feb 13 are slated to run
- This new uptrend could be the market pricing in these ads
- Watch for a possible selloff during the Superbowl if the market has priced in the catalyst already
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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.
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.