The bears are fighting the bulls at the 20 day MA. If the bulls are unable to sustainably break past the 20 day MA and at the very least enter potential re-accumulation territory, then we will want to closely watch a potential re-test of the $30k level. The 20 day MA can be a good short-term indication of the relative strength of the market. This is our first major test of the 20 day MA coming from below it, so let us see what transpires over the next few days! TA Video by Benjamin Cowen.
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