Today could be a very crucial daily candle close for BTC.
Note that if this daily candle closes ABOVE the Descending Trend-line, it will also close ABOVE the Bollinger Bands Middle Band Basis 20 Period SMA on this 1 day timeframe.
Note that if/when BTC closes a daily candle ABOVE the BB Middle Band Basis, it will be the first time it has done so since the 27th December 2021.
If/when BTC closes a daily candle ABOVE the Descending Trend-line then a successful re-test as support will be crucial for continued upwards momentum and proof that the bottom has now been and gone. Failure to close a daily candle ABOVE the Descending Trend-line will result in more downside momentum.
Note that if this daily candle closes ABOVE the Descending Trend-line, it will also close ABOVE the Bollinger Bands Middle Band Basis 20 Period SMA on this 1 day timeframe.
Note that if/when BTC closes a daily candle ABOVE the BB Middle Band Basis, it will be the first time it has done so since the 27th December 2021.
If/when BTC closes a daily candle ABOVE the Descending Trend-line then a successful re-test as support will be crucial for continued upwards momentum and proof that the bottom has now been and gone. Failure to close a daily candle ABOVE the Descending Trend-line will result in more downside momentum.
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