Crypto_Mercy

BTC Bitcoin on an Ascending Triangle - Reversal in May

Long
Crypto_Mercy Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
I see a potential ascending triangle which will be bullish but i need to see another confirmation. On Binance we had to identical touch at 4198. Also RSI on the W is still at 38 which is very low. The reason why i don't currently think we are gonna see 3300 again is the EMA 200 support and both MA and EMA 200 on the daily acting like support for now. Also i see good support with the EMA 200 backing BTC weekly and both MA 200 and EMA 200 giving support on the daily. Also RSI weekly pretty fresh around 38. With all this huge support with the MA and EMA 200 i think BTC might bounce a while between fib 0.618 and fib 0.382. for now i expect a rejection in the 3900$ area. if the EMA 200 on the weekly and MA 200 and EMA 200 are breaking... This is another story... This will be our confirmation that will might visit the crypto abyss. Next stop will be 2858 on the 1.610 fib. IMO MA 200 is a Ultra solid support.. More than that traditionnaly MA 200.. we use MA 200 like a spring trampoline :-)

Comment:
sorry MA 200 currently at 3356.. my bad.
Comment:
On the daily EMA and MA are at 5134 and 4907. EMA 200 is giving resistance at 3900$

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