The price has lost 50 Moving average and EMA top. Heading to 100 and 200 moving averages.
Hopefully 200 MA must give some support or else it can reach more downside .The lower low price action indicates bearishness and no sight of uptrend .
On weekly scale a large bearish wick is worrisome .if price retraced from rectangular box with good volumes there can be hope to reach 48k ranges again for retracement.
if price goes down and down the 1 day MA and EMA will print death cross which can lead to more downside in next month mid.
thank you.if helpful like and follow for more updates.
Hopefully 200 MA must give some support or else it can reach more downside .The lower low price action indicates bearishness and no sight of uptrend .
On weekly scale a large bearish wick is worrisome .if price retraced from rectangular box with good volumes there can be hope to reach 48k ranges again for retracement.
if price goes down and down the 1 day MA and EMA will print death cross which can lead to more downside in next month mid.
thank you.if helpful like and follow for more updates.