Description
⋅ From a daily chart perspective, EMA and MA indicates a bearish pattern. The EMA has not crossover with the moving average yet.
Support currently at 12800 btc. If the support line breaks, expect to go down even further to 11k and 8k support level base.
If you want to buy, wait till indicator of the EMA and MA goes up and breaks the countertrend line.
I am no optimistic about BTC but a market retracement is healthy overall. Neutral.