BTC - Critical Point
BTC - Critical point
Since losing market structure we are not back at the ultra critical 18k resistance that stood as support for so long. The upside is now that we have the 50DEMA coming in as support that could be a small indication to break back up. Ultimately we would have to clearly break and hold above 19k for really strong continued upward move and possible to confirm a complete reversal.
This is all ignoring any external fundamentals and news though which we know can change the tide at any time
Key Factors:
- Broken and holding the 50DEMA showed a key support/resistance. It could be a potential indication to the next push up
- Possible Retest and big breakdown in coming if we cannot break back above 18k
Since losing market structure we are not back at the ultra critical 18k resistance that stood as support for so long. The upside is now that we have the 50DEMA coming in as support that could be a small indication to break back up. Ultimately we would have to clearly break and hold above 19k for really strong continued upward move and possible to confirm a complete reversal.
This is all ignoring any external fundamentals and news though which we know can change the tide at any time
Key Factors:
- Broken and holding the 50DEMA showed a key support/resistance. It could be a potential indication to the next push up
- Possible Retest and big breakdown in coming if we cannot break back above 18k
Related publications
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.