I don't think the pullback is complete. There is too much greed in the market to begin the big pump. Wait until there's blood in the streets and everyone is running for the exits. NFA.
I suspect a drawdown to the 0.382 Fib level. This will put us into the green clouds below and on a major trend line for support. I believe the 50MA will drop below the 20MA but still be above the 200MA. Price action will drop below the 200MA so there should be some strong upward pressure.
I'm not sure exactly where that will bring the MACD and RSI, but there will be much more room for a bullish run in a drawdown like this.
That being said, it could just go ahead and depart for the moon without a drawdown.
NFA.
I suspect a drawdown to the 0.382 Fib level. This will put us into the green clouds below and on a major trend line for support. I believe the 50MA will drop below the 20MA but still be above the 200MA. Price action will drop below the 200MA so there should be some strong upward pressure.
I'm not sure exactly where that will bring the MACD and RSI, but there will be much more room for a bullish run in a drawdown like this.
That being said, it could just go ahead and depart for the moon without a drawdown.
NFA.
Comment:
the dip might keep dipping. tbh it's possible the bear market has started. time will tell.
Comment:
Beautiful swing-failure printed on a monthly confluence level. MMs have shaken all of you out and are thanking you for providing liquidity at these levels. Next liquidity tap is above.
Beautiful swing-failure printed on a monthly confluence level. MMs have shaken all of you out and are thanking you for providing liquidity at these levels. Next liquidity tap is above.