I don't mean to scare away anyone with this analysis but I want to show you some crucial levels which need to HODL for further upside.
Let us start with 2D chart, MA50 is very important level here which if btc does not HODL then we are looking at minimum 20% dump in coming month but if this level HODLs and MA200 is reclaimed then welcome the bull market. MACD flipped bearish which I marked with a circle which means that we are going to stay in a downtrend for sometime. Bullish narrative will build ONLY if MA200 is fully reclaimed.
On weekly chart, I have market the circle on stochastic which is flipping to a sell signal. Now most importantly we need to look at EMA10, Everytime price broke down from EMA10, It dumped over 39% so we can see that the price seems to be closing below it, If next week candle close below $40K then we are possibly looking at longer period of downtrend.
Let us start with 2D chart, MA50 is very important level here which if btc does not HODL then we are looking at minimum 20% dump in coming month but if this level HODLs and MA200 is reclaimed then welcome the bull market. MACD flipped bearish which I marked with a circle which means that we are going to stay in a downtrend for sometime. Bullish narrative will build ONLY if MA200 is fully reclaimed.
On weekly chart, I have market the circle on stochastic which is flipping to a sell signal. Now most importantly we need to look at EMA10, Everytime price broke down from EMA10, It dumped over 39% so we can see that the price seems to be closing below it, If next week candle close below $40K then we are possibly looking at longer period of downtrend.
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