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.
@Barrie23277, I wouldn't be surprised if BTC eventually heads back down to re-test the Bollinger Middle Bands Basis 20 Period SMA as support and then continue upwards.
peterbhc
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Yes, the 1D Mid BB is strong resistance. If BTC can flip it we could see a rally up to the upper BB, around 42. if not then lower BB will be tested, around 34
mitalium
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Good job! Waiting for Ada update)
entertheroach
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@mitalium, ADA is still under the influence of BTC and has a long way to go before it crosses its BB basis. Unless BTC successfully crosses and closes above its Descending Trend-line then its sideways at best or downwards at worst for ADA and most alts.