Look at this chart. What you see here?
Support of a long term rising channel, Support of a short term falling channel, Static support and MA50 crosses each other on 50K. Because of this reason 50K is a strong support.
As I told before, maybe BTC touches 49K (Ichimoko's cloud) but it is a shadow and it will return back to 50K channel again.
Also we have a time extremum at 28 March and trend changes at this point: from falling to rising or from falling to ranged.
Support of a long term rising channel, Support of a short term falling channel, Static support and MA50 crosses each other on 50K. Because of this reason 50K is a strong support.
As I told before, maybe BTC touches 49K (Ichimoko's cloud) but it is a shadow and it will return back to 50K channel again.
Also we have a time extremum at 28 March and trend changes at this point: from falling to rising or from falling to ranged.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.