Monthly out look we are in a critical point for the macro direction of btc. we have been trending down, lets not forget. With that being said btc did find buyer in the 6400. which makes sense that being the strongest level of price action in all of btc. If we lose the 6400 we will be in for more blood on btc.
for the bulls i would like to see this month close above the 21ma. also see price take out the 55ma on the daily, if we can do that i think we have a strong case to then target the 200 on the daily being the 9300 area. if you look left you will notice the price did just that post 2017 bull market. after we got the death cross price used the 200 daily as the ceiling till the trend reversed in April of this year.
for the bulls i would like to see this month close above the 21ma. also see price take out the 55ma on the daily, if we can do that i think we have a strong case to then target the 200 on the daily being the 9300 area. if you look left you will notice the price did just that post 2017 bull market. after we got the death cross price used the 200 daily as the ceiling till the trend reversed in April of this year.
Comment:
200 still the target safe trading bros!