Yes BTC is now in a phase where it must make a decision. Up or down, or maybe sideways???? We have been consolidating 90 days since YTD ATH. IMO there is still a lot of liquidity down there. 147 EMA( Equals 21 EMA on the weekly) corresponds now with 9300. It is very likely that we will test that zone. And if it can't hold I am pretty sure that we will touch or almost touch 200 MA on the daily. Remember there is still a CME gap open in the 8500 range.
I am doing noting now until there is more clarity.
Stay safe people!
I am doing noting now until there is more clarity.
Stay safe people!
Comment:
Worthwhile to mention that we had death cross this week. 100 DMA crossed 50 DMA. This is also considered as a death cross, obviously not that strong as the 200DMA / 50 DMA death cross.
Trade active:
WOOOOWWW. Nice bounce on the 200 DMA!
Trade active:
200 DMA acts still as support. I am now neutral, but if we close with a hammer then I will be slightly bullish.