Bitcoin price is failing to decisively break through Bollinger Band Trend lines. Too much sideways movement. Could just be a quiet weekend. If it also broke the $7,240 low on its way down I guess that would count as a fifth wave down from Feb to March double top. Nice one.
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I think the key for upward interest now would probably be the 20 MA because it has also cut through a Bollinger Band.
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Price has fallen below first Bollinger trend line. Did it fall fast and far enough or does it look like a sideways break? Tricky.
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If a sideways break then have to look at the next Bollinger trend line down. Have included another in my latest post, and I've also decided not to bother monitoring Bitcoin on a weekend anymore.
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Just adding note from my last post for the week ahead. Have removed price channel. New low of $8,311. New retrace 50% = $8,680. Price for now couldn't hold above 20 MA. Anybody for H & S or more sideways movement. Media concerns perhaps about daily moving average crossover if you follow 50, 100, 200 MA's.... What's going to be the creature's strategy? Change of habit (or not)?