Hello folks,
Well, it's a new day and a new update on BTC weekly chart. Like I said in my previous weekly chart, the 50 D MA is acting as strong support for BTC which is now at the crucial stage. If you pay close attention to the chart, you'll notice that after the 2017 ATH, BTC fall badly and then bounced back 52% from the 50 D MA.
Things are repeating again. We can clearly see a bounce taking place from the 50 D MA but we don't know whether it will bounce 52% ($44k) from here or not? For the confirmation, we'll have to wait for the weekly close above the 50D MA. BTC must hold the $30k level because if it fails to do that then the bounce will be invalid and we might see BTC at the $20k level.
I am biased towards the bounce and I hope that history will repeat again.
Share your opinion in the comment section and give a like if you like my idea.
Take care and stay safe.
Well, it's a new day and a new update on BTC weekly chart. Like I said in my previous weekly chart, the 50 D MA is acting as strong support for BTC which is now at the crucial stage. If you pay close attention to the chart, you'll notice that after the 2017 ATH, BTC fall badly and then bounced back 52% from the 50 D MA.
Things are repeating again. We can clearly see a bounce taking place from the 50 D MA but we don't know whether it will bounce 52% ($44k) from here or not? For the confirmation, we'll have to wait for the weekly close above the 50D MA. BTC must hold the $30k level because if it fails to do that then the bounce will be invalid and we might see BTC at the $20k level.
I am biased towards the bounce and I hope that history will repeat again.
Share your opinion in the comment section and give a like if you like my idea.
Take care and stay safe.
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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.
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.