Updating monthly chart trade from before. We have hit the first monthly MA support. I think its inevitable we go lower to the lower MA for support which coincidentally aligns with the $50 resistance range that may now become support. Judging by the timeline it could be another year before any kind of MOASS, which is good for any long term holders. Good luck!
Interested to see if we hold 114 as that has been a strong support. If it goes to $50 I don't believe it would stay there long as it risks the wrath of FOMO buyers as well as current longs buying in more.
Pyrat82
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@drizztsg, yea $50 will be short lived and probably a sharp move down then back up to $100 quickly.