Will the recent scam wick repeat or can we hold the trendline?
Updated
At this moment there is 40/60 chance of us dropping to 40$ range like week ago or holding the new trend line after yesterdays breakout. The chart looks exactly the same, but what's better this time is, that we did break above downtrend and EMAS are crossing as a bullish sign which did not happen last time and if we can keep 48$ then the drop is invalidated. Keep and eye out at this moment as its a break or make move today happening.
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Thanks and have an awesome day!
Note
In the short term next hour or few the MacD levels are reversing to possible touch the 50$ once again, but if we look at 1h chart, the RSI and MacD levels are still in downtrend and that could last for the day, so this makes me feel that we are not yet at the bottom. I'm guessing in the best scenario we touch around 47.60$ - 46.90$ and then start to bounce back up as there lays the 180 day EMA. Which if we don't hold then around 40$ could be inevitable today.Note
But if we look at the daily chart and indicators, then we are still really bullish and this move down is just to retest last support levels and this is not the end of the run, we are still going to the 57-100$ this week or next,.Note
We just touched the lower trendline at 46$, if this doesnt hold and by looks BTC is going down too, then we go down to 40-43$ againNote
1h and 4h MacD levels look bearish at the moment the same with RSI.I think we will go lower to 40-45$ range before going back up again.
I am waiting for a clear confirmation to enter a new long trade.
Confirmation would be if we go up to 49-50$ and stay above that level if not, this looks bearish for this day.
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