Not out of the woods yet
Hello Friends!
Yesterday’s rally was nice but there’s still a lot of work to do. I like to see a move more to the upside and create some sort of support above the 50 EMA ($34320) and the 150 EMA ($34653). It’s very possible that it goes back into the channel (Green Channel) that was formed from 2009. That was the channel that was the true trend, not the channel (blue channel) created by the covid FOMO buying. Also keep an eye on that gap fill zone that I labeled.
I’m still leaning towards the bearish side until then.
As always thanks for your follows, likes, and comments. Let’s learn and grow together. Cheers!
*This information and publication is not meant to be, and do not constitute, financial, investment, trading, or other types of advice. Do your own research.
Yesterday’s rally was nice but there’s still a lot of work to do. I like to see a move more to the upside and create some sort of support above the 50 EMA ($34320) and the 150 EMA ($34653). It’s very possible that it goes back into the channel (Green Channel) that was formed from 2009. That was the channel that was the true trend, not the channel (blue channel) created by the covid FOMO buying. Also keep an eye on that gap fill zone that I labeled.
I’m still leaning towards the bearish side until then.
As always thanks for your follows, likes, and comments. Let’s learn and grow together. Cheers!
*This information and publication is not meant to be, and do not constitute, financial, investment, trading, or other types of advice. Do your own research.
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