Will it break?
We are sitting on the 50 Day ema once again. It has been posting lower and lower highs into this area of support.
We might get another rally. If so, keep an eye on the $386 area. If it rejects off that, the short term trend line will be intact, and so will the 25 Day EMA.
Another leg down would mean $370 to meet up with the 100 Day EMA.
Keep in mind, this is some of the most volume we have seen since the Fall of 2020. The market is sputtering around a massive resistance at 400 as well. Historically, we have always had a hard time punching through every 100$ increment.
We might get another rally. If so, keep an eye on the $386 area. If it rejects off that, the short term trend line will be intact, and so will the 25 Day EMA.
Another leg down would mean $370 to meet up with the 100 Day EMA.
Keep in mind, this is some of the most volume we have seen since the Fall of 2020. The market is sputtering around a massive resistance at 400 as well. Historically, we have always had a hard time punching through every 100$ increment.
Feragatname
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