BitcoinShort
$BTC looks unhealthy in short term
Updated
welcome to my analysis on bitcoin, in my opinion it's likely to test the monthly demand zone in coming days/weeks/months.
Monthly EMA 22 is key for me which needs to hold for potential bottom which is around 25k region. Coming weekly close also could be key to decide which way bitcoin wants to go in short term. We can expect lot of volatility in coming days as price going to move from one point to another point.
On other side, 34.65k needs to hold and should S/R flip for bullish momentum and bitcoin should not lose monthly EMA22.
Anything less than 28k monthly close likely bear market. When you compare the bitcoin monthly chart and plug monthly chart both almost looks similar to me from the time of recent bull run to crash.
Monthly EMA 22 is key for me which needs to hold for potential bottom which is around 25k region. Coming weekly close also could be key to decide which way bitcoin wants to go in short term. We can expect lot of volatility in coming days as price going to move from one point to another point.
On other side, 34.65k needs to hold and should S/R flip for bullish momentum and bitcoin should not lose monthly EMA22.
Anything less than 28k monthly close likely bear market. When you compare the bitcoin monthly chart and plug monthly chart both almost looks similar to me from the time of recent bull run to crash.
Note
It is going to break down soon
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