cryptoGats

The battle continues for Bitcoin

BINANCE:BTCUSDT   Bitcoin / TetherUS
On the 1D (one day) timeframe the battle between BTC and the 50MA (50 Moving Average) continues. The price action keeps running into the 50MA but can't quite close above it. This will be the second try in the last 48 hours. BTC is running out of time, the more times it hits the 50MA and it does not go over the more it turns into stiff resistance. So read between the lines about what is happening; Someone with more money than you is trying to get you to buy BTC but no one is falling for it so the up move keeps running out of steam. There are simply no buy orders in the neighborhood that BTC is in right now. Why? It is a bad neighboorhood, Why? It has no clarity of it leading to an up or down move. What can happen is that the people behind the up move will eventually give up, pull out and sell, prompting other sell orders to kick in and we can have a big down move.

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