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GrizzlyBearBee
May 30, 2021 5:57 PM

Bitcoin rejects the 200-day MA after trendline breakout Short

Bitcoin / U.S. DollarGemini

Description

After a rejection of the 0.382 Fibonacci retracement level, BTC is currently rejecting the 200day moving average. A confirmation will expose the 50 week moving average at 27.8k.
Ultimately, we shouldn't rule out the previous all time high at 19k which lines up perfectly with the -0.272 Fibonacci extension level.

An important level to monitor is the 50 week moving average
Comments
wealthjustin
We are not going to 20k what everyone expects
michalkolata
GrizzlyBearBee
@wealthjustin, if 27K fails to hold, price will move lower
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