Here's a quick update on BTC Daily chart. As we can see The price Closed below the 50 EMA for the first time since 8th October last year! This is not a positive sign alongside the break to the downside from the rising wedge. We might visit the TA target of 43k in the near future!
The 50 EMA has worked as a very strong support throughout the whole bull run and and a daily candle close below it should not be take lightly.
Not to get too bearish then I should remind you that we have a unfilled CME Gap at 60k and these gaps tends to get filled 98% of the time.
There is a possibility that we get supported by the green support zone and see a massive bounce from there.
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
The 50 EMA has worked as a very strong support throughout the whole bull run and and a daily candle close below it should not be take lightly.
Not to get too bearish then I should remind you that we have a unfilled CME Gap at 60k and these gaps tends to get filled 98% of the time.
There is a possibility that we get supported by the green support zone and see a massive bounce from there.
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
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