Price was rejected from the resistance from previous high at 35.3k. I suspect we will see a retracement back to the 200MA.
If we bounce off the 200MA I see this as a sign of strength and we will have another attempt at the 35.3k resistance (green arrow).
If the 200MA fails to hold up the price, then we may see a big drop back to 28-30k. If this level fails to hold then we could drop as far as the 23-24k resistance from Dec 2020.
If we bounce off the 200MA I see this as a sign of strength and we will have another attempt at the 35.3k resistance (green arrow).
If the 200MA fails to hold up the price, then we may see a big drop back to 28-30k. If this level fails to hold then we could drop as far as the 23-24k resistance from Dec 2020.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.