Bitcoin - A quick but very relevant update

16 thg 8, 2022

If BTC closes tonight below the white line that's trending up it will indicate that this move upwards is over. The key is to see where it will close tonight, if the candle moves significantly below the white line it will also end up moving below the 200MA on the 1W which is significant. If all these developments go the way I described the next logical spot to land will be the horizontal white line which sits around the 19k mark. What does that mean? It means the area around 19K may be the bottom. Why? The bottom is technically speaking the area where price has hit a few times and refuses to close below -- in this case $18,901 -- fits that description.

Here on the 3-day chart - Closing below the support white line and the 200MA combined will make BTC meltdown to around 19K.
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