Momentum is BULLISH . We will see some retracement to the optimal trade entry denoted by the green shaded area then we should move up to previous swing highs testing them one by one.
So we are currently testing the support area for the third time. Historically speaking, the last two times we tested this area, we rallied up to the resistance area between 9k and 12k. However, when a support is tested multiple times, it loses its strength and that is one of the reasons why I, personally, am more bearish than bullish . A lot of confluence is...
A lot of confluence pointing to 5k at the moment! We still have a lot of room to go down. I am personally shorting this. Good luck to you all!