Still inside a falling wedge on the monthly.I’m not saying this pattern will validate or even that it will reach its full target. However, it is currently in play so I felt the need to post it here. We just recently got a lower low on the weekly chart which could easily confirm the bear market especially if we follow that up with an uptrend that ends with a lower high before it reverses back to the downtrend. We can see the monthly 50 daily moving average (in orange) is waiting just under this falling wedge and is currently hovering around the 20k zone. Seeing a fakeout breakdown from this wedge down to test the monthly 50 ma which is also close to where the weekly 200ma (not shown here) currently is. If one of the 2 or both of the MAs were able to hold support then we saw a bounce back up and a break upward from the wedge, it would definitely increase the odds of us finding away to grab a higher high. Would need to see price action come down to that 14-21k zone to be comfortable thinking the bottom is in. If we break ward without visiting there first then the odds of the breakout resulting in a lower high will then be much higher. *not financial advice*
