BTC living precariously, moving under the 200 MA since 28th December.
Just broken out over our yellow trend-line (TL) after moving 5 days almost seamlessly between the horizontal aqua support line & our yellow descending TL.
BTC must claim the 200MA on the daily, and rise above the 21 EMA on the weekly (which it has failed for several weeks now: a technically bearish indicator).
Next zones it must claim: 45.72k, 50k psychological barrier, 53.36k extremely key zone for overall bullish reversal.
At a minimum it must hold above the white TL 40k region.
40k remains a make or break point on whether we continue the bull-market or potentially enter a prolonged bearish winter.
28-30k will be the absolute bottom which must hold.
A good sign for the optimists is the RSI at 36, breaking below the lower Bollinger Band & beginning an ascent after bottoming out & a cross on the STOCH RSI; all signaling we are quite oversold at the moment.
Just broken out over our yellow trend-line (TL) after moving 5 days almost seamlessly between the horizontal aqua support line & our yellow descending TL.
BTC must claim the 200MA on the daily, and rise above the 21 EMA on the weekly (which it has failed for several weeks now: a technically bearish indicator).
Next zones it must claim: 45.72k, 50k psychological barrier, 53.36k extremely key zone for overall bullish reversal.
At a minimum it must hold above the white TL 40k region.
40k remains a make or break point on whether we continue the bull-market or potentially enter a prolonged bearish winter.
28-30k will be the absolute bottom which must hold.
A good sign for the optimists is the RSI at 36, breaking below the lower Bollinger Band & beginning an ascent after bottoming out & a cross on the STOCH RSI; all signaling we are quite oversold at the moment.
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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.