This is not really a technical analysis publication. I just wanted to put somethings in perspective as to how bad this downturn is. We will more than likely need another retest of the recent lows for a further bull run to be intact. Why? Because we haven't seen such a sharp back under the 200 MA in recent Bitcoin history. At least not in the past 3 years. Unfortunately the 20,50,200 EMA used to act as lines of support and now they have flipped to resistant. Obviously these resistant values will change slightly as the time scales increase, but it gives a general idea where we will see some possible pullback. Use Fib retracement to get more zero'd in on a higher probability of levels of resistance and support.
Again, this is not really a TA approach. Just wanted to publish something from a 30,000 feet. The bulls have a lot of work to do for a trend reversal is what we know and it's probably not coming as soon as we hoped.
Again, this is not really a TA approach. Just wanted to publish something from a 30,000 feet. The bulls have a lot of work to do for a trend reversal is what we know and it's probably not coming as soon as we hoped.