As you can see in this daily chart, the telltales previously identified of a market bottom are all confirmed now except the cross of the 1D 12MA above the 1D 20MA. But price is on the right side of those MAs for that cross to happen tomorrow, giving confidence that the market lows are behind us.
However, you can also see a $29k - $30k level of prior resistance that has yet to be claimed as confirmed support, so we should expect some consolidation down to that level before price can rally back up towards the $35k to $36k level.
What do you think? Is this coming consolidation and retest a great time to accumulate, or is this just a false breakout and price is still going to crater to bear market lows?
However, you can also see a $29k - $30k level of prior resistance that has yet to be claimed as confirmed support, so we should expect some consolidation down to that level before price can rally back up towards the $35k to $36k level.
What do you think? Is this coming consolidation and retest a great time to accumulate, or is this just a false breakout and price is still going to crater to bear market lows?
