- The 9k support which held for 3 months shattered, it will now act as resistance (red bar)
- We lost support from 21 weekly MA + 200DMA, next support is 50 MA
- Weekly RSI dropped below 50 after 6 months, should drop to 30
The next support area (green box) has confluence of
- 50 WMA
- 50% Fib (of 3k to 14k move)
- Horizontal support in 2018
There should be a relief (temp) bounce on the way down
We been tracking this chart when we called the top in July, check it out
코멘트:
We lost the support, but it turned out to be a fakeout (wick) and we had a huge push up above the red resistance, which is now blue
However, the 21WMA (black) acted as resistance and pushed price below support line (9k-8.9k), this is not a good sign. Also the RSI is now falling and likely will go below 50
My bias is bearish
However, the 21WMA (black) acted as resistance and pushed price below support line (9k-8.9k), this is not a good sign. Also the RSI is now falling and likely will go below 50
My bias is bearish
코멘트:
Bearish bias was accurate, we almost dropped to the support line and within $100 of our target. Doesn't look great
RSI is firmly below 50
RSI is firmly below 50
코멘트:
Two months from the initial idea, we hit our target green zone today. Love TA
Let me know if this has helped
Let me know if this has helped
Bearish bias remains unchanged