It's no good being a bull in a bear market, it just causes a lot of pain, but that time is coming to an end, and it's no good being a bear in a bull market.
We have for the first time this year advanced above the bearish log trend line. And we are about to flip green on the CCI!
These are definitely positive signs, and I will be looking for pullbacks to buy into. However, there is still 1 relatively steep hurdle at $10k. That also happens to be the daily 200MA and the 61.8 fib of the ABC swing. If we break that with some conviction, then I believe the next target is 12k and then onto 13.5k.
Buying opportunities; I will look for rejection at 10k, and a buy around 8.6k
We have for the first time this year advanced above the bearish log trend line. And we are about to flip green on the CCI!
These are definitely positive signs, and I will be looking for pullbacks to buy into. However, there is still 1 relatively steep hurdle at $10k. That also happens to be the daily 200MA and the 61.8 fib of the ABC swing. If we break that with some conviction, then I believe the next target is 12k and then onto 13.5k.
Buying opportunities; I will look for rejection at 10k, and a buy around 8.6k
I'm not sure if this is just short term, or if this will trigger a broader sell off. I will evaluate once we get to ~8.5k