As predicted if we go below previous trend lines at approx. 55k we would hit the 128 daily MA and then continue to previous swing lows at approx. 47k.
We overshot the the 47k by 1000 and bounced back to the 128 daily moving average. Bitcoin always overshoots its targets, due to massive liquidations on over-leveraged trades!
Holding at the 128 daily MA makes me more positive the low was in and we can see more movement to the upside, back to previous swing highs at 59.500.
If we now lose support of the 128 daily we could see more downward pressure to the 200 daily hovering around 39k.
Sentiment neutral to long if we can hold above the 128 daily moving average. Target 59-60k
Sentiment will swing to short if we go below 128 daily and cross the previous swing low at 47k. Target 39k
PS: F#@k Musk
We overshot the the 47k by 1000 and bounced back to the 128 daily moving average. Bitcoin always overshoots its targets, due to massive liquidations on over-leveraged trades!
Holding at the 128 daily MA makes me more positive the low was in and we can see more movement to the upside, back to previous swing highs at 59.500.
If we now lose support of the 128 daily we could see more downward pressure to the 200 daily hovering around 39k.
Sentiment neutral to long if we can hold above the 128 daily moving average. Target 59-60k
Sentiment will swing to short if we go below 128 daily and cross the previous swing low at 47k. Target 39k
PS: F#@k Musk