EMA 200 Test expected on Daily at Golden Ratio (40 cent)
The price came below EMA 50 and bounced off it to go lower.
There might be a test of the EMA 200 on the daily chart which might end up bouncing from the golden ratio around 40 cent to reach higher than 69 cent.
If Bitcoin retraces lower pre halving (like 32 - 35 K) it is likely that the price reaches 35 - 37 cent before rallying higher. I am also expecting Bitoin to see lower prices before halving.
RSI is below 50 showing a bearish trend.
There might be a test of the EMA 200 on the daily chart which might end up bouncing from the golden ratio around 40 cent to reach higher than 69 cent.
If Bitcoin retraces lower pre halving (like 32 - 35 K) it is likely that the price reaches 35 - 37 cent before rallying higher. I am also expecting Bitoin to see lower prices before halving.
RSI is below 50 showing a bearish trend.
Comment:
MTF ResistanceLine is holding so far and the price is staying within the yellow parallel channel. Lets see if it comes back to 49 cent or straight to 46 cent first before heading further down.
Comment:
