BITCOIN $26180 Breaking Below The 3D 21ema May 25 2023
BITCOIN $26180 Breaking Below The 3D 21ema
Price continues its consolidation btw 26500-27500 for the last 2weeks.
Bears are controlling the 3D trend because price continues to stay below the 3D21ema and macd remains negative.
However, the W downside volatility has not picked up yet since the W macd is not yet negative and price is above the W21ema.
So, bulls could use that as a plausible argument to continue to try to defend the 27-26k range.
The probability to print a zig-zag is not high at the moment knowing that in general from May-July, market tends to be boring, bearish and or choppy.
Support based on the fibs are 24-22 (0.382-0.50fib)
Immediate resistance at 27.5-28.3k.
Price continues its consolidation btw 26500-27500 for the last 2weeks.
Bears are controlling the 3D trend because price continues to stay below the 3D21ema and macd remains negative.
However, the W downside volatility has not picked up yet since the W macd is not yet negative and price is above the W21ema.
So, bulls could use that as a plausible argument to continue to try to defend the 27-26k range.
The probability to print a zig-zag is not high at the moment knowing that in general from May-July, market tends to be boring, bearish and or choppy.
Support based on the fibs are 24-22 (0.382-0.50fib)
Immediate resistance at 27.5-28.3k.
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