BTC Update:
Finally, Some bullish thing happen. BTC closes the daily candle at $40,506, which is above the daily 200 MA. The daily 200 MA is broken only for a single candle and immediately reclaimed, making it a fakeout. Also, the big wick to $30,000 confirms that BTC hit the bottom, and institutions and whales bought BTC below $35,000. BTC is bullish as long as it trades above the daily 200 MA. Now BTC needs to reclaim the $42,000 resistance area. All weak hands are shaken out of the market.
Finally, Some bullish thing happen. BTC closes the daily candle at $40,506, which is above the daily 200 MA. The daily 200 MA is broken only for a single candle and immediately reclaimed, making it a fakeout. Also, the big wick to $30,000 confirms that BTC hit the bottom, and institutions and whales bought BTC below $35,000. BTC is bullish as long as it trades above the daily 200 MA. Now BTC needs to reclaim the $42,000 resistance area. All weak hands are shaken out of the market.
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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.