BTCUSDT $27070 Weekly Update May 15 2023 #20

BTCUSDT $27070 Weekly Update May 15 2023 #20
BTCUSDT is now below the 3D21ema
The 5D macd has completely crossed negative.
Price has temporary bounced back up to 27400-27700 resistance zone , which is about the neckline of the head and shoulders pattern
Directional targets remain the same 24-22K (0.382-0.50FIB) as mentioned in W#19
On the lower degree, could be challenging to break 25k, and price action could print a sideways correction btw 27.5-25.5k range

For the trend to continue the macro uptrend, bulls would need to take the May's high at 29.8k.
But the probability for continuation is now not in favor of the bulls since price is still below the
3d 21ema and the 5D has printed a negative macd.