Bitcoin has held the 128d MA for a little time. But bitcoin didn't see a bounce or much volume on that level. Right now we are under the 128d MA on the hourly timeframe, on 13may the deathcross has been formed and there is also a possible bearflag forming wich is a bearish pattern.
I'm looking at the support zone between 45-42K if it closes below 128d MA on the daily at end of day.
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Only 9 hours left for weekly candle close. It looks like it will close above the 21W EMA @46.4k.
Bullish scenario is that we keep getting weekly candle closes above the 21W EMA until we eventually see more volume to get a good bounce off the 21W towards new all time high's.
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Until now bitcoin has held 42k perfectly
Bullish scenario: We are in the bottom area of this correction and consolidate above 40-42k
Bearish scenario: we close below 40k on the dailytime frame and go down to next heavy support @30-35k