The short term bullish trend is clear but I think you are forgetting another trend line before the scenario you describe can play out.
It's the trend line that goes from about $11.5K to $8.5K to $6.4K
I'm looking at the daily/weekly chart for this
We've been rejected by it last rally to $4200 and we are there testing it a second time. Only if we break bullish from it your scenario may play out I think
I see the line of which you speak, but it really doesn't worry me because:
My projections show your resistance line breaking between 25 March and 5 April. Let's find out if I'm any good as an analyst...
The way I'm reading it, that line just broke (typical - I'm trying to buy and time is of the essence). That also means I'm a poor analyst since I only had it breaking after 25 March.
Yes, we seem to have broken it. It's certainly made me more bullish than before.
It's still a kind of 50/50 situation for a while now. I won't be truly convinced until we break 6K, even if that takes the better part of the year to break.
Still, I have been accumulating slowly for a while now.
Crossing fingers!
Glad to hear it.
Right now I'm scared of what may be a bull flag - I need a price drop so that I can buy!