BTCUSDT has started another correction phase
A retest of the Sprt at 40k, could generate another push back up to 43-44k or up to the 6H 100ema on avg
The 6h macd is still positive, so this will create a longer correction phase
If prices bounce back up from the current sprt of 41500, BTCUSDT could print a zig-zag formation by pushing above the current resistance of 44.3k, and possibly retest the 6h/8h 100ema resistance
Therefore, the overall market sentiment as of now is correction phase
If markets condition change, I will readjust with an update
A retest of the Sprt at 40k, could generate another push back up to 43-44k or up to the 6H 100ema on avg
The 6h macd is still positive, so this will create a longer correction phase
If prices bounce back up from the current sprt of 41500, BTCUSDT could print a zig-zag formation by pushing above the current resistance of 44.3k, and possibly retest the 6h/8h 100ema resistance
Therefore, the overall market sentiment as of now is correction phase
If markets condition change, I will readjust with an update
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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.