PrepForProfit

Bitcoin Re-Testing 200sma Support

Short
COINBASE:BTCUSD   Bitcoin
Bitcoin has fallen back below the $50k level after price failed to advance above the purple 34ema for 5 consecutive days. Price is now testing the red 200sma again while also falling back into the purple downtrend channel. First level of support to watch for is near $40k(yellow), secondary support comes in near $30k(yellow). Lower indicators all pointing to more downside ahead for price in the short and medium-term.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.