To make the amazon comparison again. I don't rule out this scenario either. With the 20MA or 50MA as a resistance and a long way down with strong pullbacks in the meantime like amazon in 2000
the 200MA (weekly) will be used as resistance. This is approximately $22,300. If this will effectively become the resistance, I expect a further decline towards the trendline and a bottom around $9,000. This is one possible scenario
One small bounce on the trendline while using the 50MA is a resistance instead of a support (bearish). Afterwords, we go straight to the 200MA with a first price target around 20k
As an addition to my previous most: another possible scenario, but less detailed and more generalised. The concept is the same: closing bellow the 50MA on the weekly and there is a not uncertain possibility we'll go to the 200MA (around 20k) where the support always been. Not unlikely we go bellow the 200MA, but for the moment, arriving there will be a big...
