Bitcoin | 200MA is a Big resistance !

Hello Traders,

we have some points that we need to discuss together to know more about the current market situation and how safe or risky the market is right now.

1. On a weekly frame, there is a death cross going to happen between 200MA and 50MA and this doesn't happen before.

2. On a weekly frame too, for the first time in history we are closing under 200MA for more than 200 days.

3. on a monthly frame, it's the first time too to close more than one month under 50MA and this is something that should be put into our consideration.

4. on the daily frame the technical analysis is kinda obvious:

• we are under a huge resistance around 25k closing above it will give pulls a chance to test the 28k price range.
  
• as long as bulls are not able to show enough strength to break the above resistance, we are going to see 20k or even lower depending on the price action there.
  

actually, this Idea is a discussion more over being an idea so, let's discuss those points together in the comment section.

thanks,

Dagangan aktif

Dagangan aktif:

the chart worked perfectly!!
be ready we are very close to the first entry point