BTC GOT REJECTED FROM DAILY SMA-200 BUT RECOVERED QUICKLY
- The price got rejected from where daily SMA-200 and trend resistance meets after making a HH.
- Later, it hanged down below the 45-46k support zone but recovered quickly with a long lower shadow marking a bullish stance.
- Now the price is squeezed between the SMA-200 and support zone.
- In case we go down, 42k would be our first stop which is the meeting point of the trend support, SMA-100 and SMA-50.
- If we are to go up, first we need to cross the SMA-200 and trend resistance. In that case, it is likely to see 52-53k as our first stop.