BTCUSD - Will the trend finally fail?
Price would need to close above $5500 during today's weekly close to maintain, what some may call bitcoin's last moving support. This is non-other than the big 200 weekly MA! This support has been maintained from the genesis of bitcoin.
If price closes above it, there will be a renewed hope for some bulls that in the long run, price will respect stock to flow.
If price closes below it, that would not be good for the bulls and more uncertainty and fear will continue.
However, if the price closes between $5000 and $5500, we would give it a couple of weekly closes to confirm the next trend.
limit greed,limit fear, maximize profit in the long run!
Stay safe and have a happy weekend traders :)
If price closes above it, there will be a renewed hope for some bulls that in the long run, price will respect stock to flow.
If price closes below it, that would not be good for the bulls and more uncertainty and fear will continue.
However, if the price closes between $5000 and $5500, we would give it a couple of weekly closes to confirm the next trend.
limit greed,limit fear, maximize profit in the long run!
Stay safe and have a happy weekend traders :)
Smart Crypto Association [ SCA ]
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.
Smart Crypto Association [ SCA ]
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.