BTC / USD
in my last analysis i talked about the early bearish sign which was a daily candle closed below 50 ma first time since october , the price dropped after that to first major support
Today we can see BTC try hard to hold current major support around 50k and also 100 D MA (blue line) show some support here
What next ?
Now we will watch carefully If next daily candles will hold above that blue line (100 ma) or not ...
1- holding above will make a base support for a potential move toward 55-56k
2- however any daily closure below can send price easily to next major support area around 40k zone
Weekly chart : BTC is looking more bearish than smaller time frames and we can see first support on weekly around 45k
My advice : same as last week ..trade with caution ..dont over trade and dont over leverage ..
somtimes best this you can do is just waiting ... saving your capital is most important here
Good luck
in my last analysis i talked about the early bearish sign which was a daily candle closed below 50 ma first time since october , the price dropped after that to first major support
Today we can see BTC try hard to hold current major support around 50k and also 100 D MA (blue line) show some support here
What next ?
Now we will watch carefully If next daily candles will hold above that blue line (100 ma) or not ...
1- holding above will make a base support for a potential move toward 55-56k
2- however any daily closure below can send price easily to next major support area around 40k zone
Weekly chart : BTC is looking more bearish than smaller time frames and we can see first support on weekly around 45k
My advice : same as last week ..trade with caution ..dont over trade and dont over leverage ..
somtimes best this you can do is just waiting ... saving your capital is most important here
Good luck
Comment:
Read Important Update about BTC here 🚨👇🏻
