the downward move seems to be picking up momentum as of this morning,
there's a good chance this spirals down for the remainder of this week.
long liquidations could fuel the accelerated downward move.
if this does indeed play out, which i'm not saying it will,
then i'd be very interested in getting back into the market closer to 36k.
this would be another back-test of the monthly 21ema; something that in my opinion is required for another upswing.
overall i'm quite bullish on the market, but as of this morning i'm sitting in cash until things settles down.
i don't really care about catching the exact bottom of this move, i just want to do it safely.
there's a good chance this spirals down for the remainder of this week.
long liquidations could fuel the accelerated downward move.
if this does indeed play out, which i'm not saying it will,
then i'd be very interested in getting back into the market closer to 36k.
this would be another back-test of the monthly 21ema; something that in my opinion is required for another upswing.
overall i'm quite bullish on the market, but as of this morning i'm sitting in cash until things settles down.
i don't really care about catching the exact bottom of this move, i just want to do it safely.
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
i only share a tiny fragment of my ideas on this platform. to view my daily work, join the lunar syndicate 9 👇
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.