If we're drawing it as a curve then it's still intact on the monthly (blue vertical lines are the halvings). This doesn't meant it won't break, though. It will if the stock market keeps crashing. Remember: the last time we had a stock market crash of this magnitude was pre-Bitcoin. Nevertheless, the fact that we are still holding this line and also appear to have found at least temporary support on the weekly 200 EMA and also the 4-day 377 EMA - both of which were the bottom of the 2015 bear market and the former of which (200 weekly EMA) was the bottom of the 2018 beat market - is certainly reason for hope.
I personally would not long from right here automatically, though. I would wait for a bullish divergence to appear on the daily, which will probably take a minimum of a week or two to form, potentially longer. Must be patient!
Cheers and happy trading.
I personally would not long from right here automatically, though. I would wait for a bullish divergence to appear on the daily, which will probably take a minimum of a week or two to form, potentially longer. Must be patient!
Cheers and happy trading.