Where is support?
I see a lot of charts here on tradingview focusing on the micro time frames. For those who like to trade on a larger time frame this is for you.
Where are we. 37K at the time i type this. Where did we come from? 60+K. We spent weeks basing sideways and now are making our back down to support. So where is support. Monthly support is 12-14K range. Weekly we have a level at 20K to test.
The trend is down, and you shouldn't forget that.
Look at the MACD cross we had in 2017-18, look at 2021 now the cross on the MACD.
Massive Impulse up, smart money sells, retail FOMO's, price drops, retail panic sells, smart money buys lower.
Where are we. 37K at the time i type this. Where did we come from? 60+K. We spent weeks basing sideways and now are making our back down to support. So where is support. Monthly support is 12-14K range. Weekly we have a level at 20K to test.
The trend is down, and you shouldn't forget that.
Look at the MACD cross we had in 2017-18, look at 2021 now the cross on the MACD.
Massive Impulse up, smart money sells, retail FOMO's, price drops, retail panic sells, smart money buys lower.
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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.
Related publications
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.