Here we go, the "traditional" test of MA50/W is inbound. It may require some weeks, so keep an eye on weekly closes. If price holds over 51,5k on any W close we should expect another pretty strong leg up.
First divergences start to show up.
Soon good R:R Long opportunities may appear in the 56k - 51,5k area, as long as your orders are staggered and / or you maintain a stop loss below 51k.
First divergences start to show up.
Soon good R:R Long opportunities may appear in the 56k - 51,5k area, as long as your orders are staggered and / or you maintain a stop loss below 51k.
Note
Well, the hyphotesis was actually on point, as BTC moved to ATH area once again.Now a further test of MA20/W (sorry for the typo in the OP test) is unfolding again. BTC sits at about 65k and it seems likely to bounce towards 67+.
Then to be re-evaluated.
This is likely part of a sideways action between 56/60k and 70/72k.
A breakout of such range will likely ignite the next meaningful move.
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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.