Presently retesting the 200 SMA (thick orange line) as resistance on the daily.
Need it to pierce above the 200 SMA and turn it into support.
Likely to come down to revisit the 40~42k USD level again first.
The 21 weekly EMA (red line shown in the weekly chart below) presently resides at ~40k USD.
Confirmation of the continuation of a bullish outlook ahead if the next weekly candle closes above.
Note: Ichicloud had remained bullish throughout the recent dump.
Need it to pierce above the 200 SMA and turn it into support.
Likely to come down to revisit the 40~42k USD level again first.
The 21 weekly EMA (red line shown in the weekly chart below) presently resides at ~40k USD.
Confirmation of the continuation of a bullish outlook ahead if the next weekly candle closes above.
Note: Ichicloud had remained bullish throughout the recent dump.
Note
Daily candle successfully closed above 200 daily SMA:Note
Daily Chart update:Retests at predictable levels indicates a healthy market.
Note
BTC holding above 200 daily SMA
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Related publications
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.