I am thinking BTC will continue moving downwards, ultimately to the .786 Fib retracement level, which is around 4980.
In about one weeks time or sooner, I expect the movement to reach the downward channel (black line) once it hits that, it will drop about 20% to the support at around 5460.
The 50 EMA in orange is just crossing the 200 SMA in purple at the moment so it supports this downwards move.
In about one weeks time or sooner, I expect the movement to reach the downward channel (black line) once it hits that, it will drop about 20% to the support at around 5460.
The 50 EMA in orange is just crossing the 200 SMA in purple at the moment so it supports this downwards move.