Show Posts
Most Guys talk it had to go down and if to X point and Then a breakout= bullish....
But what if its the oppossite? A sudden PUMP to 5K-ish ...... what would mean something as that
HM?
But what if its the oppossite? A sudden PUMP to 5K-ish ...... what would mean something as that
HM?
We are still in the bear market until we break the long term bear line, shown in yellow. The bear line currently sits at $4550 and is falling. So yes, a pump to $5kish would be extremely bullish because it would mean that we had broken the bear market, at least temporarily. Keep in mind we temporarily broke the bear market by going sideways at $6k, so breaking the bear line is not good enough, you also have to stay above it.
Right now we have a problem with a mini bear line forming at $4100 below the main bear line. This creates a secondary, albeit weaker point of resistance.
Don't forget to watch volume, it is almost as important as price. Ideally we want to see huge volume to seal the bottom of this bear market.
