At first glance it looks like Bitcoin hit its low with the bounce off the 70.5 level. This level also aligns with a pretty significant horizontal trend level. However this could just be a bounce to the 10k-11k range.
What concerns me is the evident death cross we seem to be heading towards. Bitcoin continues to respect the 13EMA resistance, but if we climb to 10-11k it will break that resistance and the 13EMA will become support.
What concerns me is the evident death cross we seem to be heading towards. Bitcoin continues to respect the 13EMA resistance, but if we climb to 10-11k it will break that resistance and the 13EMA will become support.
Comment:
Look like we broke the 13EMA resistance BUT we need two bars above that line to confirm it.