BTCUSDT broke three trends in the last 7 days. The closest horizontal support I see at $ 45,000 (-10% from here) but not all is lost.
There is a good bounce happening that may allow us to make a third trend reclaim, plus we are bouncing off the 100MA and 100EMA at $49,500.
We can see that in the previous market cycle of 2017, the 50 Day MA acted at least 6 times as excellent support, but when it failed, the 100MA stopped the dip in most cases.
I believe that if the price returns and closes daily above the trend and above the 100MA and EMA ($ 50,500), there may be another solid bullrun without serious consequences. If instead there is no strong bounce and we close the daily below $ 49,000, I think the only option would be to fall to $ 45,000.
BTCUP also supports this idea as seen below.
There is a good bounce happening that may allow us to make a third trend reclaim, plus we are bouncing off the 100MA and 100EMA at $49,500.
We can see that in the previous market cycle of 2017, the 50 Day MA acted at least 6 times as excellent support, but when it failed, the 100MA stopped the dip in most cases.
I believe that if the price returns and closes daily above the trend and above the 100MA and EMA ($ 50,500), there may be another solid bullrun without serious consequences. If instead there is no strong bounce and we close the daily below $ 49,000, I think the only option would be to fall to $ 45,000.
BTCUP also supports this idea as seen below.
Not
Nice rejection for the second time to the 3rd trendline!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.