Do. Or do not. There is no try.
Just adding my 2 sats to the equation. We are currently holding above the 50w EMA, but the 200w EMA is far below by about a 45-50% drop (4500). I have drawn a long term trendline which BTC broke below and tested the 200w EMA perfectly before rising to 14k. Now we are breaking below it again. The 50 EMA is acting as stronger support than the line, but I still think the rising line is valid because it is consistent over a long period of time, just less valid than before. If we break below here then hello 4500. I'll be buying FO SHOW.
Just adding my 2 sats to the equation. We are currently holding above the 50w EMA, but the 200w EMA is far below by about a 45-50% drop (4500). I have drawn a long term trendline which BTC broke below and tested the 200w EMA perfectly before rising to 14k. Now we are breaking below it again. The 50 EMA is acting as stronger support than the line, but I still think the rising line is valid because it is consistent over a long period of time, just less valid than before. If we break below here then hello 4500. I'll be buying FO SHOW.