BTC is still holding the $22000s which is also the level of EMA 50D, a strong support.
Its direction seems undecided waiting for macro news this week and next week. As a recall, here are some key events in the coming days:
While things are unclear, bulls have been calling for an upside continuation and bears have been creaming for sub $10000 (again).
Maybe another scenario could happen: BTC will be in a sideway consolidation, for a month? As other ones, this scenario is also possible.
I realize that the current pattern of BTC looks like what happened in April-June 2020 where BTC were struggling to accelerate to go upward after the crossing of EMA 50D and MA 200D. Finally, BTC took a whole month to consolidate before taking off.
This is just one scenario among others, without any absolute certainty. But I hope that this can provide you a different view on BTC .
What are your thoughts on BTC and markets?
Its direction seems undecided waiting for macro news this week and next week. As a recall, here are some key events in the coming days:
- Fed Chair Powell Testifies on Tuesday 08th March
- US Job Openings on Wednesday 09th March
- US CPI /PPI on 14th & 15th March
While things are unclear, bulls have been calling for an upside continuation and bears have been creaming for sub $10000 (again).
Maybe another scenario could happen: BTC will be in a sideway consolidation, for a month? As other ones, this scenario is also possible.
I realize that the current pattern of BTC looks like what happened in April-June 2020 where BTC were struggling to accelerate to go upward after the crossing of EMA 50D and MA 200D. Finally, BTC took a whole month to consolidate before taking off.
This is just one scenario among others, without any absolute certainty. But I hope that this can provide you a different view on BTC .
What are your thoughts on BTC and markets?
Comment:
I recall this analysis as another view of BTC to prepare for the next move which would be big.
Comment:
BTC has started to pump on 10th March. Much earlier than "predicted" by this analysis. This pump was stopped by the major weekly resistance (around 29K-30K) as expected. However, prices are already above the trendline support (black dashed line), as a results a real pull back hasn't happened yet, at the moment.
I consider the trendline as a key level (support) to watch.
I consider the trendline as a key level (support) to watch.
