BTC not looking good in this weekly chart...Trade cautiously
BTC was rejected down by the pink ma20 3x last few weeks.
This week it was rejected by the green ma50 & was sent down
below the 40k strong support intra=week.
Stochastic RSI turning down again. a small oversold bounce is expected soon.
Bears may be trying to sell it down to the 35-36k zone near ma100
where buyers will buy it up again to 40k
or to the 29-31k zone near ma200,a very strong demand zone
& also a double bottom.
However, Btc would be bullish if it reclaims the ma50 & ma20.
pls do own analysis & share.
This week it was rejected by the green ma50 & was sent down
below the 40k strong support intra=week.
Stochastic RSI turning down again. a small oversold bounce is expected soon.
Bears may be trying to sell it down to the 35-36k zone near ma100
where buyers will buy it up again to 40k
or to the 29-31k zone near ma200,a very strong demand zone
& also a double bottom.
However, Btc would be bullish if it reclaims the ma50 & ma20.
pls do own analysis & share.
Btc now displaying an indecision candle in the weekly chart..so may go bothways...with downside bias.