New impulse wave to breach, holds back atm by WMA100, 2WMA50 and 0,50% Fib.
I believe the 2wMA50 is a strong support, btc have bounced once and today it bounced again (atm).. but I believe the support will break and that will cause a bigger move.
At the same moment we can see RSI did not manage to break resistance(monthly) and StockRSI is in overbought territory.
If Bitcoin can't close above the 2wMA50 line this week, I believe we will see new lows around 6-5k area where 2wMA100 and wMA200 is telling to eventually buy from running bears.
I believe the 2wMA50 is a strong support, btc have bounced once and today it bounced again (atm).. but I believe the support will break and that will cause a bigger move.
At the same moment we can see RSI did not manage to break resistance(monthly) and StockRSI is in overbought territory.
If Bitcoin can't close above the 2wMA50 line this week, I believe we will see new lows around 6-5k area where 2wMA100 and wMA200 is telling to eventually buy from running bears.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.