If you check out the monthly TF and the "50 months MA", you see that 21600 is the MA's number at the moment. besides,if u take a look at the weekly TF and the "200weeks MA", you see that app. 23000$ is the MA's number. Then we come back to Daily TF, and see meaningful reactions of the price to this range( 21600 to 23000 )----> this area is shown on the chart.
On the other side, the long-term important trend line(the GREEN line) is on the stage. and now the price is stuck between the "moving averages area" AND "the long-term trend line".
In case the trend line is lost,we go for 13K and in case 21600 and 23000$ are taken back,we can go up to 26000 as the first and 30,000 as the second target.
Personally, as i said in my previous analysis, I'm more BEARISH and guess the trend-line will be lost and we go for 13K. The market should make its decision in the coming days.
Would be glad to have your comments and ideas.
Respects,
ElCo
On the other side, the long-term important trend line(the GREEN line) is on the stage. and now the price is stuck between the "moving averages area" AND "the long-term trend line".
In case the trend line is lost,we go for 13K and in case 21600 and 23000$ are taken back,we can go up to 26000 as the first and 30,000 as the second target.
Personally, as i said in my previous analysis, I'm more BEARISH and guess the trend-line will be lost and we go for 13K. The market should make its decision in the coming days.
Would be glad to have your comments and ideas.
Respects,
ElCo
