quick update to show some simple price action and support levels while bitcoin broke down after a good push from the previous days US open
Clear head and shoulders, recent death cross techincals, long squeezes all contriubting to the bearish price right now, yet no need to panic...
if the level at 37.3K can hold, we may breathe a sigh of relief but if not then its open territory for bounces from the MA's or going as low as 29K, the previous years low
bulls will want to see this current level hold with RSI and indicators showing oversold on the daily - if price can get above 42k today, ill change my short term bearish vision
few differing fundamentals in favour and against, so hard to call in that area right now, lots of fear and panic, so time to be greedy, maybe go do some shopping!
as the cryptoride continues, don't get emotional and use this as a opportunity if you can
WHAT do YOU think? ....Hold at this level? 40k or towards 29k??? over the next week or so? Let us know below....
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support level comes back into effect after being blown away last week
bulls need to see 40k+ this week, bears will want to break this level and oush on 33k again
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look where the latest trend lines converge!
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might be a bit early but we broke the down trend, needs to hold now...