this is what I've come to just staring at this chart
retest of green line and bouncing pretty boolish
breaking past orange pretty much confirms bullmarket/end of bear
losing red/20w EMA prob leads to retesting lows/lower lows
from a sideliner perspective, bidding low 70ks down to mid mid 60ks makes sense no matter what
below 65k feels like we'd have to get a new low as we'd drop into an old range again and be testing 59-60k for the third time which wouldn't be great. How much lower idk, luckily most of the move up has been spot driven and animal spirits haven't taken over the market yet, so a wash out wouldn't need to go to 50k or w/e
i can't see a break (and close) of 65k rn tho unless there's a black swan round the corner, which we can't obv play for or predict
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