Still holding strong
The 92k are a very important support. We are consolidating above that area for several weeks now after having reached 108k ATH in December. Tonight we tested that support successfully, with price falling to 89k but immediately recovering. This morning we are back well above at 95k.
If we cannot hold this line after all, we will fall back into the 80s price range, maybe even lower into the 70s and see an extended and deeper correction. This wouldn鈥榯 necessarily be a big problem for the bull market itself, but another big test for our patience and conviction.
Watch the 92k guys and lets hope we keep that barrier alive.