I will explain it very quickly. As a trader, when you take an trade, you must look the trend to optimise your R/R right ?
So. Today, look the trend of the crypto market, lead by BTC.
FIRST Here we have the 50 MA MONTHLY. Never before, BTC was under it.
Don't look in weekly, look on monthly.
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When i say, Never before, BTC was under it.
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SECOND
EMA 50 MONTHLY is also a big resistance now
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THIRD
On this indicator, never happen before again, now a big resistance (white trend)
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Fourth
Now, we will see on Weekly TF, EMA 50 and 200 are use here
Crypto market is very volatil, so we can considered on Weekly TF, we are on bullrun or bear market with EMA 50
So, we are in bear market since january 2022 and confirmation is April 2022. But since June 2023, we are under 200 EMA, it's very bearish.
You can see the big resistance now at 25k, EMA 50 and 200 are here. Futhermore, we have the first death cross history on weekly
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Fifth
Look Stock market, it's very important
If MA 50 Monthly is lose, it's over this time
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Understand me, i don't say BTC is over and we are going to 10 dollars value.
I just say, we are not in bullrun yet, we are in a strong bear market with the indicators indicated here. We can see a reversal yes, tomorrow, in 1 month, in 1 year, in 10 years. I don't know, but on Weekly and montly, we are not in bullrun at all