BTC TA
For now, Support around 3550-3650 is holding up. In addition, it is in the oversold zone as well. Most likely, it will consolidate here for some time before trying to attempt to push upwards to touch the Resistance Zone around 3800.
However, te bigger picture is still bearish. We have
(1) Daily EMA 21 around 3800 USD
(2) Weekly EMA 200 around 4100 USD
(3) Monthly EMA 55 is around 3650-3700 USD
If we do not break Resistance around 3800 (which was support earlier), most likely path is in the downward direction. Also, the other interesting part is to see, how long the support around 3550 is holding up.
However, te bigger picture is still bearish. We have
(1) Daily EMA 21 around 3800 USD
(2) Weekly EMA 200 around 4100 USD
(3) Monthly EMA 55 is around 3650-3700 USD
If we do not break Resistance around 3800 (which was support earlier), most likely path is in the downward direction. Also, the other interesting part is to see, how long the support around 3550 is holding up.
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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.