Intra-weekly BTC Trend is likely to decline below $42K
BTC price is likely to decline below $42K. The trend direction of OBV and PVT are consistent with price direction with BTC and will likely continue to next week.
MA assigned to BTC price are 50 MA (Yellow), 100 MA (Green), 500 MA (Blue). These MA follow the session we are in and the session is 45 Min freq. On April 4th BTC declined below the 50 MA and 100 MA prior to a 50 MA Cross under 100 MA event. Later on April 5th BTC price decline below 50 MA and 100 MA after previously mention MA cross under event.
The price decline maintained the MA levels of 500 MA > 100 MA > 50 MA. This is a clear breakdown in support for $46K price. A subsequent breakdown in price under 50 MA will prove to be a breakdown of support for $42K.
Disclosure I am currently holding short position against BTC at the time of this writing 4/8/2022 1:05 EST
MA assigned to BTC price are 50 MA (Yellow), 100 MA (Green), 500 MA (Blue). These MA follow the session we are in and the session is 45 Min freq. On April 4th BTC declined below the 50 MA and 100 MA prior to a 50 MA Cross under 100 MA event. Later on April 5th BTC price decline below 50 MA and 100 MA after previously mention MA cross under event.
The price decline maintained the MA levels of 500 MA > 100 MA > 50 MA. This is a clear breakdown in support for $46K price. A subsequent breakdown in price under 50 MA will prove to be a breakdown of support for $42K.
Disclosure I am currently holding short position against BTC at the time of this writing 4/8/2022 1:05 EST