Bitcoin showing signs of weakened momentum while mostly trading sideways for the last 3 weeks
Current Support has held at $18 k while strong resistance has repeatedly rejected moving past the $20 k mark
Well past the fair value point based on Linear Regression which points to a bubble that will fizzle out over time
22% drop down to 20 Week EMA is possible where holding support becomes a critical point of psychological support at about $14 k
While the 50 Week EMA is more in line with the fair value at about $12 k
Bitcoin seems to be moving sideways for now which is new compared to previous data at this price range
Even if Bitcoin crashes hard and pulls back down towards $6 k and shows strong signs of a good buying opportunity
Moving sideways is always painful, but always reveals its next action over time
Anything can happen and now is the time to be cautious and pay close attention to what the next signals might be
Trade safely out there!
Current Support has held at $18 k while strong resistance has repeatedly rejected moving past the $20 k mark
Well past the fair value point based on Linear Regression which points to a bubble that will fizzle out over time
22% drop down to 20 Week EMA is possible where holding support becomes a critical point of psychological support at about $14 k
While the 50 Week EMA is more in line with the fair value at about $12 k
Bitcoin seems to be moving sideways for now which is new compared to previous data at this price range
Even if Bitcoin crashes hard and pulls back down towards $6 k and shows strong signs of a good buying opportunity
Moving sideways is always painful, but always reveals its next action over time
Anything can happen and now is the time to be cautious and pay close attention to what the next signals might be
Trade safely out there!
