Losing the 50-week is not a small thing, that's the kind of level that can flip from support to resistance fast and keep flipping longs into fuel on the way down.
The 50-week flipping to resistance is the textbook read, sure, but whale accumulation addresses I track have been absorbing this whole move down, when the smart money is loading, the "support to resistance" narrative is usually just bait for retail to capitulate right before the reversal.
Losing the 50-week is not a small thing, that's the kind of level that can flip from support to resistance fast and keep flipping longs into fuel on the way down.
The 50-week flipping to resistance is the textbook read, sure, but whale accumulation addresses I track have been absorbing this whole move down, when the smart money is loading, the "support to resistance" narrative is usually just bait for retail to capitulate right before the reversal.
Yeah that's fair but honestly I don't even fully understand moving averages yet and it's still giving me anxiety so that tells me something