Despite the ongoing correction, BTCUSD is still printing higher lows and higher highs. Interestingly, the price is not reacting that much to FUD anymore.
Looking at the 1D log chart, one sees that the recent rejection happened around the 200 day moving average. BTC has been closing below this indicator for nearly two months now, and thus far has been rejected three times by it. Needless to say, it is bound to cross it at some point!
Short term, If we see some price action below 9K, I will be paying close attention to the 100 day moving average, currently around ~8900K
disclaimer: for educational purposes only, not financial advice!
Looking at the 1D log chart, one sees that the recent rejection happened around the 200 day moving average. BTC has been closing below this indicator for nearly two months now, and thus far has been rejected three times by it. Needless to say, it is bound to cross it at some point!
Short term, If we see some price action below 9K, I will be paying close attention to the 100 day moving average, currently around ~8900K
disclaimer: for educational purposes only, not financial advice!
Comment:
Way to early to tell, but there seems to be a falling wedge forming, visible on shorter timescales
Comment:
Still trading inside the falling wedge
Comment:
Nice breakout