BTC/USDT (100D MA New Support?)

💎Technical Analysis Summary💎



BTC/USDT

-BTC closes below the 100D MA yesterday but was only a fakeout
-The Bulls may have found the new local bottom today
-The 47k dollars is our key level to maintain in the coming weeks
-We know there is a big CME gap from 57k-62k dollars
-This area perfectly coincides with the 50D MA and Fib resistance levels
-Bitcoin must regain above 60k level and hold it for a few days
-To increase our bias back to the bullish side
-If the .618 Fib and 50D MA turns out a strong resistance
-The Bears may enter the market and send the price down again
-It will another challenge for the Bulls to defend the 47k support zone
-I will shift my bias to the Bears because we may form a potential H&S pattern
-For now, let us focus on what the market is telling us and act accordingly
-Please trade responsible because the market can turn around us any time




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