BTC continues its journey within the downward channel, finally breaking the weekly 100 Moving Average (as should be expected) with the help of the 21 daily exponential moving average... as usual, the trend is your friend.
Next major support: the weekly 50 Moving Average around $6800, although it is also likely we will stay within the downward channel and fall no lower than $7300 in the coming days.
This has a HUGE impact on altcoin prices across the board, so ensure appropriate stop-losses for any on-going trades of ETH, XRP, LTC, Bitcoin Cash, etc.
Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator below which overlays both in a clear and helpful fashion.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Next major support: the weekly 50 Moving Average around $6800, although it is also likely we will stay within the downward channel and fall no lower than $7300 in the coming days.
This has a HUGE impact on altcoin prices across the board, so ensure appropriate stop-losses for any on-going trades of ETH, XRP, LTC, Bitcoin Cash, etc.
Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator below which overlays both in a clear and helpful fashion.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
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An almost exact bounce off $7300, even earlier than I expected, directly matching the downward support mentioned above.
