BTC analysis( 29/12/2021) No trade zone
BTC is ranging between 45662.68 and 51923.11. For a bull case to occur, we will like to see it break the 4h 200 ma and then finally the 20 W SMA at 53000 which is quite confluent with the daily support at around 53738. The selling pressure for the 4h chart is also drying up as seen from the decrease in volume for the MACD. For bear case to occur, it will be sweeping the liquidity of the bottom of the range at around 46864. This will then cause a wick down to around 44242 in which I have placed a buy limit there. After that, we will wait and see. BTC may also attack the 41236 area. If the bear case happens, Alt coins will be destroyed. So we wont be looking for any longs here. Right now, the market is a bit choppy and we will wait for BTC to do its thing before we trade ALTS. The best thing to do now is to wait and see. I will give an update when I will be trading ALTS.
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