we touched the SMA and didnt like it, more downside possible

Updated

as the title suggest, we touched the weekly 20 and daily 100 (in two candles) and were rejected from both. bitcoin hasnt risen above the daily 100 since april, and the weekly 20 has been important as both support and resistance the past few years. green bars in macd touched the top of their trendline, stoch still hasnt broken down, it all looks fundamental to me but maybe i am missing something, i know ive been a cynic for awhile but i truly see this as the likely scenario. we probably will go sideways for another week or so, since i am charting the macro weekly.

Note

this area is also the .382 of the aug 15th high and sept 21st low, which we are closing underneath after testing for a 3rd day in a row.

Note

5 days in a row now we've been rejected from this area.

Note

whelp, it has begun.

bmrm98

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.