Bitcoin status 25 March 2022
#Bitcoin being rejected in red "sell zone", almost exactly at upper Fibonacci level and 200 day EMA, with a potential MACD bearish cross formation in the 1D chart. In case of a sudden drop, watch for daily closes above or below 40.8K.
Daily volume has been going down also.
On a closer look to the 4H chart, the line that tells you if the short term is going to be bullish or bearish is around 42.2K. So,
- 4H closes above 42.2K are bullish
- 4H closes below 42.K are bearish
- 1D closes above 40.8K are bullish
- 1D closes below 40.8K are bearish
On a more macro scale:
- 21W SMA is around 43.6K
- 200 day EMA is around 44.6K
- 20W EMA is around 46.2K
All those are lines to conquer. Until we see daily candles closing above them, we're still in a bearish trend.
Daily volume has been going down also.
On a closer look to the 4H chart, the line that tells you if the short term is going to be bullish or bearish is around 42.2K. So,
- 4H closes above 42.2K are bullish
- 4H closes below 42.K are bearish
- 1D closes above 40.8K are bullish
- 1D closes below 40.8K are bearish
On a more macro scale:
- 21W SMA is around 43.6K
- 200 day EMA is around 44.6K
- 20W EMA is around 46.2K
All those are lines to conquer. Until we see daily candles closing above them, we're still in a bearish trend.
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