Zooming out to look at the 1 Week chart, Currently we can see that BTC is sitting on the MA50. In the previous instances of 1W MA50 being breached to the downside, BTC headed down to touch, and in intraweek trading, head below the MA200.
As the most recent parabolic advancement has been violated, I believe a MA50 breach would entrench a long term bear market that could send BTC eventually down to MA200 levels.
This is a significant chart — and a great observation. Macro (long term) TA will most always trump micro (short term) TA. Exceptions that occur are most always due to extrinsic (abnormal) events or agents — like disasters or manipulators.
You may be interested in my similar but longer-term (12 year) chart.
Peace!
Sporia
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interesting nice
MistaTino
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nice chart, imo according to this chartit needs a small bounce first to 40s then down
You may be interested in my similar but longer-term (12 year) chart.
Peace!