Bitcoin Weekly & Daily 50 & 100 SMA shows HUGE Support
The chart above has the 50 SMA ( RED ) and the 100 SMA ( BLUE )
Note how the 50 has acted as support on a Weekly chart
More than anything, Note how it was used at the end of the 2 previous ranges of BTC this cycle.
Projected 50 SMA points towards Contact with Pa in June, providing PA ranges as is now.
The Daily chart is a little different.
https://www.tradingview.com/x/kHqwADlp/
On this chart, see how it is the Blue 100SMa that provides support and it maybe worth noting what happened as the 50 crossed Under the 100 previously.
The Crossover that is likely to happen later this wek is about the same time After Range start as previously.
what does htis mean ?
In mu opinion, it is highly likely we will follow previous and return to the 91K area
It is there we need to remain and not drop lower, for to long.
Time Will tell us but we need a plan for ALL situations.
Trade safely and be safe yourself
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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.