BYBIT:BTCUSD
Many are anticipating a dead cat bounce and as we start to dive into some TA, maybe there is some merit to the argument. BTC has crossed the 200SMA following the recent sell-off after formation of the Wyckoff Distribution #1 (bearish) and over the last couple days on the daily chart has tested this moving average as a dynamic line of resistance....
I'm thinking that AUDNZD goes long on the support of the channel given through the daily chart and reaches the resistance.
Trade on bounce.
Price has been moving with momentum indicated by the Stochastic Oscillator.
GMMA indicates there has been a downtrend.
