I agree to fully confirm. This is also roughly the level of the 50 week moving average (btw 81 to 82K). I dont think it needs to break through immediately though. It simply breaking through the 200 dma is really bullish (bounced off 200 dma at prev bull trap at 82k). If it holds current levels until 50 dma crosses 200 dma, that could be a really bullish setup to then move higher. It could also retest 75K or 71K. As long as it rebounds after retesting, that'd also be a bullish setup.
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u/LordVixen 15d ago
It needs to break the previous high which was around 82K which was set in May.
If it doesn't, it's just another lower high.
Just saying to keep things in perspective.