If bullish, we bounce near 50 MA.
if bearish, we end up down at 100 MA.
I'm leaning bullish...50 MA plus trend line support plus log chart bull flag.
even still, I'm expecting at least 2 months of range trading between 13k and 7k, some of which has already begun.
please keep in mind at these time frames you can pierce right through these averages, as evidenced by the 100 and 200 day MA on the btc daily chart. they are not good targets to land a buy and expect immediate green results but they can bounce.
if bearish, we end up down at 100 MA.
I'm leaning bullish...50 MA plus trend line support plus log chart bull flag.
even still, I'm expecting at least 2 months of range trading between 13k and 7k, some of which has already begun.
please keep in mind at these time frames you can pierce right through these averages, as evidenced by the 100 and 200 day MA on the btc daily chart. they are not good targets to land a buy and expect immediate green results but they can bounce.