BTC Rejection of Uptrend from 0.618 Fib
This is an updated Idea from yesterday
Bearish:
1)Reversal of uptrend from 0.618 Fib line at 45,409
2)Loss of Bullish Trend Line
Bullish:
1)Golden Cross Formation of the EMA 50 over 200
New trend:
Look for double Bottom Support off of previous Buyer Support Zone to start new uptrend
IF support isn't found look for a deeper pullback to previous support levels around 36,500
Catalysts:
Several Crypto Themed Superbowl ads for the weekend of Feb 13 are slated to run
- This new uptrend could be the market pricing in these ads
- Watch for a possible selloff during the Superbowl if the market has priced in the catalyst already
Bearish:
1)Reversal of uptrend from 0.618 Fib line at 45,409
2)Loss of Bullish Trend Line
Bullish:
1)Golden Cross Formation of the EMA 50 over 200
New trend:
Look for double Bottom Support off of previous Buyer Support Zone to start new uptrend
IF support isn't found look for a deeper pullback to previous support levels around 36,500
Catalysts:
Several Crypto Themed Superbowl ads for the weekend of Feb 13 are slated to run
- This new uptrend could be the market pricing in these ads
- Watch for a possible selloff during the Superbowl if the market has priced in the catalyst already
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