We drop towards the 200 SMA (around 3.5k) breaking it immediately or forming a triangle like the blue one you can see, getting rejected by the trendline and dropping afterwards... (Red line drawn)(This Scenario becomes more and more likely we are dumping towards the 200 SMA )
3150 was the bottom, breaking the long term trendline going...
Hi Guys so as we can see the dark red trend line is still the most bearish trend line of all in this BTC bear market. It already brought us down from the 6k levels.
The only way right now to cross this trend line is with the 200 MA weekly support which crosses the Trendline at 22. - 24. April and at 3.5k levels.
Opportunity to short at the Trend line and buy at...
Im not a pro Trader but that's my view here. Pretty simple.
If you see things different feel free to comment.
Very unlikely: Bitcoin breaks trend line, moving higher then 100 EMA Weekly (around 5.2k)
Very unlikely Bitcoin crashes again closing a weekly / monthly under 1.8k
Likely: Bitcoin gets rejected of the long time trend line + 200 Weekly...