BTC is Below The 50 EMA!
Here's a quick update on BTC daily chart. As we can see, the price broke down from the rising wedge. Also the price is currently below the 50 EMA. The 50 EMA Has worked as a very strong support throughout this bull run. We have to close above it! Otherwise we are looking for some some more downside! Last time the price went below the 50 EMA was back in October last year when the price was 10k!
The target of the downside break of the rising wedge is at 43k. The price really needs to close above 56k to stay above the 50 EMA, To avoid further downside!
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
The target of the downside break of the rising wedge is at 43k. The price really needs to close above 56k to stay above the 50 EMA, To avoid further downside!
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
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