The trend is still down, but keep an eye on the 4-hour SMA(20). If it breaks above that level (currently around $36.5k) it may start looking more constructive.
Nota
What was once resistance becomes support.
Now that the 4-hour SMA(20) has been broken to the upside, this may be the beginning of a recovery. What we see here is a re-test of the SMA(20) as support. If this level holds, this should provide a floor for the drawdown and, as time goes on, give investors confidence to re-enter the market.
Nota
It's really getting tight in there though. As the SMA(50) converges from above and the SMA(20) converges from below, the price will be pinched and be forced to choose a direction.It should happen in the next few days.
Nota
We finally have our answer. A close above the 4-hour SMA(50) is a bullish sign and the mean reversion back to the SMA(200) could be a powerful move.
If price moves back below the 4-hour SMA(50) and SMA(20), it would be time to start getting defensive again.
Nota
Price has drifted below the 4-hour SMA(20) intra-day, but there are still signs of hope. The 4-hour chart is starting to put in higher-highs and higher-lows, so the trend still looks up.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.