Best advice I once received on Crypto! Never cheer before you know who's winning. Dont make a sound. Trade Carefully!
MA50 going down - and acts as resistance MA200 starts going flat and move sideways - and we are not that far away from it for a hard correction (compare it to april 13th where the high was twice the MA200) Fib retracement levels can help us identify real trend reversals! The basic rule of thumb is that if we did retrace over 0.786 level - it is a strong indicator...
MA20 MA50 MA100 all pointing down RSI short term small trend up but with general medium term strong down trend. Mid July packs a lot of options that are expiring on BTC. In my opinion we will see a great dump by mid JULY towards 20-23k. from that point anything from 10-19K will not look that unthinkable. one more thing on my mind: The composite man has shown...
if BTC is not going to stop dropping in value, I think we can see MATIC around 0.5-0.6
in blue the previous downtrend channel in orange the new downtrend channel indicating today's price drop. market is heavily influenced by big old BTC. checking the weekly BTC chart we can clearly see H&S forming. Let's hopes we're not going all the way down :|
BTC facing difficulties breaking 40K resistance for the last 6 weeks. BTC will retest the 34K support level a couple more times and then might drop to test the 30K support level. Low buyers volume with the fact that BTC usually needed about 2 weeks to bounce back from value drops seem to indicate an overall bearish market, in which BTC will probably visit the 23K...
BNB will fall to lower support level if BTC drops below the 35K support to the area of 30K support level. Many signs of a bearish market soon.