Bitcoin testing exponential average of 89 and possibly 200If it dips to the 0.618 retracement, the price will drop to $10,000/$9,000, testing the 200 average.
Premierstochasticoscillator
bull pennant formation or down trend?Chaikin and premier stochastic oscillators showing some signs of upward breakout out of the pennant. Volume profile makes sense for the pennant formation and pole.
Personally going to wait to see if price breaks through the 1.26 ish level before entry (yellow ray). other notable levels are seen with the other horizontal rays.
Bitcoin Weekly Technical Indicators WeakBitcoin, on a weekly basis, looking weak, but still has room to fall. MACD, Premier Stochastic Oscillator, Vervoort Smoothed Oscillator, KDJ, and Ehlers Smoothed Stochastic & RSI with Roofing Filters all are bearish.
I am especially watch KDJ as its strong movement down makes it look like Bitcoin price could make another run at $340 or below.
None of these indicators has bottomed. So expect more downside before Bitcoin price recovers.
