Bitcoin Death cross and where after
The simple fact of life is that for everything that goes UP, it has to drop at some point and for BTC, that point maybe soon
but this Will NOT be a bad thing, as if PA follows the suggested Path, it will come back to to test support on what has resistance for a long time last year.
Shown are the SMA and EMA 50 ( Red) and 200 ( Yellow)
As far as I can see, this is also the 1st ever Death Cross on a Weekly BTC PA. We had one on the Daily chart in June 2021 and it was Largely Ignored and, in fact, PA went to on post a new ATH a while later.
The same should happen again now given current sentiment - BUT, PA is turning Bearish on a weekly MACD as is it now oversold and Needs to cool off
So, as a result and over time, , I can see PA dipping back down to test support, maybe as low as 16K but hopefully only to around 19K
Also, do not forget how DXY ended the week - That alone could be the trigger for a BTC PA move down, taking many with it, But noly for a while
Good luck Guys and Gals
but this Will NOT be a bad thing, as if PA follows the suggested Path, it will come back to to test support on what has resistance for a long time last year.
Shown are the SMA and EMA 50 ( Red) and 200 ( Yellow)
As far as I can see, this is also the 1st ever Death Cross on a Weekly BTC PA. We had one on the Daily chart in June 2021 and it was Largely Ignored and, in fact, PA went to on post a new ATH a while later.
The same should happen again now given current sentiment - BUT, PA is turning Bearish on a weekly MACD as is it now oversold and Needs to cool off
So, as a result and over time, , I can see PA dipping back down to test support, maybe as low as 16K but hopefully only to around 19K
Also, do not forget how DXY ended the week - That alone could be the trigger for a BTC PA move down, taking many with it, But noly for a while
Good luck Guys and Gals
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