Major bearish cross with price falling under the 50-day moving average on weekly timeframe.
We closed last week under the 50MA. If we don't get back above it this week, then it will be very hard to be bullish on this chart.
The 100MA is found at $30,000 which would provide a good target for this downtrend reversal. Hope for the best, but prepare for the worst.
When MACD on weekly crossed to the bearish side, that was the first warning. This is the second.
I guess the X-mas gift will be buying BTC at a discount. I would be surprised to see a quick reversal considering this price action and likely we will close 2021 with a bearish chart.
Time will tell.
Like and follow if you liked my idea!
We closed last week under the 50MA. If we don't get back above it this week, then it will be very hard to be bullish on this chart.
The 100MA is found at $30,000 which would provide a good target for this downtrend reversal. Hope for the best, but prepare for the worst.
When MACD on weekly crossed to the bearish side, that was the first warning. This is the second.
I guess the X-mas gift will be buying BTC at a discount. I would be surprised to see a quick reversal considering this price action and likely we will close 2021 with a bearish chart.
Time will tell.
Like and follow if you liked my idea!
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📣 Find more Alpha by joining Your Crypto Community:
🔹 Over 10,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 10,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.