Bitcoin (BTC): Game Plan Has Not Changed / Big Drop Incoming!
New week is here and we are baking with Bitcoin in weekly timeframe.
Despite some bullish movement that we had recently on Bitcoin, our game plan has not changed at all. We are waiting for price to reach, firstly, the zone of neckline near EMAs After that, we will be looking for a possible break of EMAs!
Swallow Team
Despite some bullish movement that we had recently on Bitcoin, our game plan has not changed at all. We are waiting for price to reach, firstly, the zone of neckline near EMAs After that, we will be looking for a possible break of EMAs!
Swallow Team
Note
Bitcoin's daily timeframe has broken out of the zone of chaos where during the weekend we had a clear break.
Despite that nice breakout, we are not very optimistic about it due to the movement happening during the weekend.
So we are left with 2 possible scenarios where both will end up touching again that lower zone of 50K so eyes on it.
Each day, the EMAs are going to pressure the market price so any sharp movement from here would be natural movement!
Note
Bitcoin so far is looking good where price has seen a nice rejection from upper zones and now is re-testing again the 100EMA.
This zone is important, as if we see a break of that EMA, we will be back in that zone of chaos, bounching near that 200 EMA again!
Note
Bitcoin has made a nice breakdown, forming another fakeout above EMAs where price went back to zone of chaos.
So far we have had a nice 9% of market price movement and price is seeing good pressure from sellers, which might be that breaking point we needed for the 200EMA full break!
Note
Since the beginning of the week we had a nice downgrade drop of 10% where price is now back near 200EMA looking for a possible bounce again or a final breakdown of that EMA.
As we still have some time, we might see some small recovery after such a drop, but our gameplan has not chanced even a bit. We are looking for the lower zone to be reached, so eyes on it!
Note
Bitcoin had a really interesting week where prices have been ralling from one side to another in between the EMAs.
As of Friday, we see price made another good downward movement where price is now below 200EMA. As we enter the weekends markets, we need to see today a good downward movement securing fully that 200EMA (by sellers).
Once we see that, we might see good pressure from sellers leading price to near 50K.
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🚨 Authentic Mentoring
⚡️ Short-Term + Mid-Term Trades
Join our amazing team and be part of something bigger.
FREE: t.me/+fiEDSn7M9pJkODA0
⚡️ Short-Term + Mid-Term Trades
Join our amazing team and be part of something bigger.
FREE: t.me/+fiEDSn7M9pJkODA0
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