Hello fellow traders,
Thanks taking the time to check out my observation on the market today!
In this short analysis I would like to share my thoughts on the price action of BTC at present moment.
This does not have to be the end of the world for BTC/crypto bulls.
There is a support of 21SMA on the weekly.
For bear market to be confirmed 21SMA should cross below 50SMA as shown on the weekly chart.
Confirmation on 3week chart would be price action breaking below 21SMA and heading down towards 50SMA along with the bearish cross on Slow Stochastic.
Please share your thoughts.
Happy trades!
Thanks taking the time to check out my observation on the market today!
In this short analysis I would like to share my thoughts on the price action of BTC at present moment.
This does not have to be the end of the world for BTC/crypto bulls.
There is a support of 21SMA on the weekly.
For bear market to be confirmed 21SMA should cross below 50SMA as shown on the weekly chart.
Confirmation on 3week chart would be price action breaking below 21SMA and heading down towards 50SMA along with the bearish cross on Slow Stochastic.
Please share your thoughts.
Happy trades!
