On the 4H chart we've gained the 50 day moving average and have been using it as support. Now I think is the time for the push to test the 200 day moving average, which we will need to re-evaluate after btc gets rejected or if it gains the 200 day as support.
Everyone's sentiment is bearish, front page of tradingview is all bearish, we've been in extreme fear for a record amount of time.....
The point of control over the past 9 months is 7.2kish. If we gain this level I think we make a push to 8k before any drop happens.
Just saying, if there was ever a time BTC would do the opposite of what everyone is saying, now is the time.
Everyone's sentiment is bearish, front page of tradingview is all bearish, we've been in extreme fear for a record amount of time.....
The point of control over the past 9 months is 7.2kish. If we gain this level I think we make a push to 8k before any drop happens.
Just saying, if there was ever a time BTC would do the opposite of what everyone is saying, now is the time.
Comment:
I think we move up from here for a test of the 200 day MA which is ~8k. 8k is also where BTC fell off a cliff. After that, we'll probably get rejected and come back down to at least 7.2k and see if that holds as support
Overall, I think we decline until June 8th time frame because that is the day the 200 day MA will *likely* bottom out
Comment:
looks like we're back on the long term trend line
