Hello Traders,
We have some key areas of support that haven't been touched in a long time. One thing about markets is that they like to balance themselves out by touching all areas at some point. I believe that point will be in the $1700-$1400 price range.
Key areas I'm watching are the bottom trendline of the BB, 100 EMA, 50 SMMA on the weekly timeframe.
We may slow bleed for another week and then capitulate downwards to these areas soon after.
If we get a small rally over the next couple of days, it will be a good time to pull capital for any other potential downtime.
Not financial advice.
Good luck!
We have some key areas of support that haven't been touched in a long time. One thing about markets is that they like to balance themselves out by touching all areas at some point. I believe that point will be in the $1700-$1400 price range.
Key areas I'm watching are the bottom trendline of the BB, 100 EMA, 50 SMMA on the weekly timeframe.
We may slow bleed for another week and then capitulate downwards to these areas soon after.
If we get a small rally over the next couple of days, it will be a good time to pull capital for any other potential downtime.
Not financial advice.
Good luck!