BitcoinShort
BTC decision point.
Hello Everyone,
BTC is in a very critical stage at the moment. We have seen it sell off massively in the past couple of weeks and we are not out of the woods yet. This current rise is only a retest of the 200 Day EMA and the massive support level that was built over the course of 2021 so far.
A rejection from this level would confirm a shift in the tides for BTC. This is VERY important to keep you eyes on. A rejection from the 40-42K area would be very bad news for the bulls.
The Bears have a very strong case at the moment. In the coming days we will see who will prevail. This is very very clear on what is going on here. We are at a tipping point and a rejection would confirm a shift in sentiment. The 200 Day EMA is flat and we are down below. We bounced off of a strong support level at 30K and are heading into our confirmation of more downside.
This analysis is not to hate on BTC. This is just what the charts are showing. I wish everyone well. Stay vigilant if you are holding. Right now might be your last chance to exit at these levels for a long time. If you are holding for life, more power to ya. All I ask is that you don't let your bias and emotions get in the way. We have formed a textbook distribution faze and are currently confirming it and the coming downtrend.
Good luck everyone!
BTC is in a very critical stage at the moment. We have seen it sell off massively in the past couple of weeks and we are not out of the woods yet. This current rise is only a retest of the 200 Day EMA and the massive support level that was built over the course of 2021 so far.
A rejection from this level would confirm a shift in the tides for BTC. This is VERY important to keep you eyes on. A rejection from the 40-42K area would be very bad news for the bulls.
The Bears have a very strong case at the moment. In the coming days we will see who will prevail. This is very very clear on what is going on here. We are at a tipping point and a rejection would confirm a shift in sentiment. The 200 Day EMA is flat and we are down below. We bounced off of a strong support level at 30K and are heading into our confirmation of more downside.
This analysis is not to hate on BTC. This is just what the charts are showing. I wish everyone well. Stay vigilant if you are holding. Right now might be your last chance to exit at these levels for a long time. If you are holding for life, more power to ya. All I ask is that you don't let your bias and emotions get in the way. We have formed a textbook distribution faze and are currently confirming it and the coming downtrend.
Good luck everyone!
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