daily volume is still low ... we have to wait. looks more like some panic buys because there was no drop to the down side.
why would that indicate a panic buy?
Maybe people feel safe to buy, because they think the bottom is in?
I think there is enough genuine indicators that we are changing long term trend that large money has more confidence than it has since last year.
As always, I think it heavily depends on your appetite for risk...
Balls of steel, and there at the right time? buying at $340
Don't care about bear market, it feels cheap? $420
Waiting for some confirmation, like break of long term downtrend? $470 (now)
Further confirmation by volume and price? Probably around $520.
Kinda slow to get in, but at least you know we're done with the downtrend for good? Above SMA200, ~$620
My point is, I wouldn't count on "big money" getting in right now just because we broke a bit of resistance. But another group of people sitting on fiat saw a few more signs that we're (slowly, maybe) turning around, and got in. I'm one of them.
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