Bitcoin Potential Bounce at 200MAs NOW?! OR time to Short?
Bitcoin is currently testing the 200MAs at 39.1K, and we are seeing some defense from the bulls. If we can see some more volume come in along with a strong bullish candle, could be a sign of a possible bounce from this support area. Might be a good place for a long if we can get volume and price action confirmation. Keep an eye on this one.
That said, if price fails to bounce strongly here and starts to bleed lower, then we could see a larger leg down, especially if price breaks below the 200MAs zone of 38.7K.
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That said, if price fails to bounce strongly here and starts to bleed lower, then we could see a larger leg down, especially if price breaks below the 200MAs zone of 38.7K.
Check out my daily videos for more in-depth technical analysis and trade setups for Bitcoin, Ethereum, and Altcoins.
Why follow?
1. Community of Technical Analysts sharing analysis and trades
2. Live tracking of whale wallet movements
3. Live update of the latest important news
4. Live syncing of popular crypto tweets
5. Ebook covering how to be profitable in the cryptocurrency market
As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
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