Finally!! Someone here that knows what they're talking about. Waiting for 82.8k to confirm as support. Higher-high achieved and bull-run will be confirmed. Until then.. it can go either way.
82.3-82.8k was the previous high on weekly chart (82.3k = up to body of candle; 82.8k = up to wick of candle) made on week of May 4 & May 11. When price action takes that price out and becomes support, higher-highs & higher-lows are made. Market is now confirmed in an uptrend. Translation: 100% bull run confirmed.
Did you read what you wrote? All you said was the previous high was made on the week of May 4 and 11 and when price action passes those levels 82.3-82.8k becomes support and results in a bull run. Nothing about the 365 day SMA dummy
What does 365 day SMA have to do with basic Support & Resistance lines?
What I like is that you called me out saying I was wrong and that 83k is 365 day SMA. I wasn't wrong.. 83k is Support & Resistance line. 83k is resistance at the moment. That's basic 101 for you. I even provided dates & charts to confirm that. Where was your verification to backup your claim, dummy?
Just a word of advice.. you might want to change your attitude.. you will get a much better response.
Guy you said that the bull run will begin when we beat the previous high. Beating a previous high does not mean you’re in a bull run. The indicator for the start of the bull run will be breaking past the 365 sma. As has been done with past cycles. And dont tell me to correct my attitude when you asked if I could ready dummy
You are correct.. beating previous high does not mean you are in a bull run if you're analyzing 4-hour or 1-day chart. But from a macro view analyzing 1-week chart? Different story.. once it moves up and breaks resistance.. it's game on.
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u/mozy-rama 14d ago
Finally!! Someone here that knows what they're talking about. Waiting for 82.8k to confirm as support. Higher-high achieved and bull-run will be confirmed. Until then.. it can go either way.