Fellow traders, an important milestone was just recorded. We finally tested (and bounced) out of the 21 Weekly EMA. This is what I was bringing up in my last posts in association with an Elliotistic perspective over the BTC/USDT pair. Beyond all the FUD from Elon and the recent downtrend in the NY Stock Exchange, it is a very important milestone in our run - one long overdue compared to the previous Bull Runs.
Now the question is ...are we still in the clear for another leg up or not...or is it time to give it up altogether ?
My perspective that the recent flash crash is only a natural step, that kept being postponed for quite some time. From here we have but two options - one would be to just go up and shoot for the moon, and the second one (which I find the most probable one by a large margin) is to have another leg down (completing the C wave) to test the next important support level - the 34 WEMA. A successful bounce from this level would be a healthy sign that would enable the current Bull Run to continue. As such, expect increased volatility in the days to come and, as always, trade carefully. We are definitely not out in the clear just yet.
What do you think ? Pls let me know your thoughts on this.
Now the question is ...are we still in the clear for another leg up or not...or is it time to give it up altogether ?
My perspective that the recent flash crash is only a natural step, that kept being postponed for quite some time. From here we have but two options - one would be to just go up and shoot for the moon, and the second one (which I find the most probable one by a large margin) is to have another leg down (completing the C wave) to test the next important support level - the 34 WEMA. A successful bounce from this level would be a healthy sign that would enable the current Bull Run to continue. As such, expect increased volatility in the days to come and, as always, trade carefully. We are definitely not out in the clear just yet.
What do you think ? Pls let me know your thoughts on this.
