Prepare for further downside, but in the end, it should continue up as long as it stays above the bottom Purple trend line.
Price failing 21 weekly EMA. It happened 3 times in the previous bear market. I expect similar movement between the moving averages, and one final shakeout to the 5-5500k support. Failing that, it would be problems and could go much lower.
Weekly 200 SMA also to look at as possible lowest correction point, slowly approaching 5k levels.
Price failing 21 weekly EMA. It happened 3 times in the previous bear market. I expect similar movement between the moving averages, and one final shakeout to the 5-5500k support. Failing that, it would be problems and could go much lower.
Weekly 200 SMA also to look at as possible lowest correction point, slowly approaching 5k levels.