Long from the 200 Moving Average 1 day chart

13 дек. 2021 г.

Concept on a one day chart time frame

BTC is currently trading just below the 200 EMA and

• 
  just above the 200 MA; it seems MP is setting up for a big move, and we are either about to crash through support and retest the 45k region or bounce from the 200 moving average and reclaim a safe area trading above both the 200 EMA and the 200 MA. As we know, many trades will be made from these areas, and both are critical zones for market price.
  
  
  
  
  FOR THE BULLS
  
  Following my plotted formation and uptrend on a more macro perspective, we could be putting in point 4 now and another higher low; it makes sense to me from here to risk a LONG from the zones of the 200-day moving average with a stop loss set just below the 200-day moving average. If BTC finds strong support and recovers back above the 200 EMA, I think things will progress quickly. The top of the next leg could be in the 73K-75k region. The Ultimate oscillator points to a bottom possibly forming, and market trend reversal could be possible. The ultimate Oscillator is suggested the same.
  
  
  FOR THE BEARS
  
  We have been in a few weeks' downtrends on a short-term view; if the Market price crashes below the 200 MA, we could see this downtrend last a few weeks or months more. Ultimately I would be looking to a longer time frame such as one week and looking for crucial support zones on moving or exponential averages. A break down below the 200 MA from here could likely see BTC testing 45k and 40k regions once again.
  
  FOR FUNDI
  
  We still believe the long trend is up and will be looking at areas to accumulate or LONG; We will Long as close to THE 200 MA as possible with a stop loss set not far below.
  
  Remember, this is speculation and our perspective, this post is made for the benefit of the community, and you should never blindly follow anyone's idea without DYOR also.