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dvdubrovsky
Nov 9, 2022 9:44 PM

Bitcoin Begins to Capitulate Lower After 5 Months of Indecision Short

Bitcoin / United States DollarCoinbase

Description

Bitcoin has broken under the critical 17567 - 18892 support zone, a range that has held since the middle of June, opening the door to resuming the broader downtrend.

BTC/USD is also testing a break under the November 26th, 2020 low at 16200.

That has exposed the September 2020 low at 9813.

A push back above lows from June may shift the focus back to a neutral setting as the 200-day Simple Moving Average nears. The latter may reinstate the dominant downside focus.

COINBASE:BTCUSD

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