BitcoinShort
Bitcoin will hit the MA 50 like a wall
Updated
BTC just touched the 50 Moving Average on the Weekly chart (more relevant) and retracted quickly.
As of now it doesn't look like it has the "umpf" to go above it.
We will see in the next days.
My personal feeling is that the bulls need to regroup at this time as more buying power can be gathered at lower prices.
This is not trading advice, just my personal opinion.
As of now it doesn't look like it has the "umpf" to go above it.
We will see in the next days.
My personal feeling is that the bulls need to regroup at this time as more buying power can be gathered at lower prices.
This is not trading advice, just my personal opinion.
Note
I firmly believe that the Squeeze between MA50 and MA200 (on the weekly timeframe), which is already underway, will generate a serious movement of the price when BTC manages to escape it.Check the price action when touching or breaking trough the MA50 and MA200 in the past (visible on chart).
I expect the break to be on the upside when it happens.
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