Hello everyone,
We can see that btc is fighting to break an important trend line but does it has enough strengh for that???
For the moment the price action is below those MAs (50 yellow, 200 red) that means it is strong bearish and also the volume is too low.
I represented on the chart with fib. retracement where is the support between the 61.8% and 50% levels. PAY ATTENTION IN THAT ZONE!!!
Until that I want to see btc reaching 49k to keep up this 'bull market' otherwise if it goes below the support, in my oppinion the 'bear market' is knoking on the door.
Note: This is how I read the bitcoin chart on 1d tf and this is not a financial advice and everybody is responsible to make their own decision.
We can see that btc is fighting to break an important trend line but does it has enough strengh for that???
For the moment the price action is below those MAs (50 yellow, 200 red) that means it is strong bearish and also the volume is too low.
I represented on the chart with fib. retracement where is the support between the 61.8% and 50% levels. PAY ATTENTION IN THAT ZONE!!!
Until that I want to see btc reaching 49k to keep up this 'bull market' otherwise if it goes below the support, in my oppinion the 'bear market' is knoking on the door.
Note: This is how I read the bitcoin chart on 1d tf and this is not a financial advice and everybody is responsible to make their own decision.