Hi fellow crypto-traders!
Looking at the 4 hours chart (which is the chart that gives me a better clue of what's going on, and of course reading TA theory, crypto-news and our top-authors, and non-even-authors like yours truly), I see that even though the bulls have been pushing hard for the last couple of hourly sessions, the MA-200 (in red) is playing as a mayor resistance, provided that the .38 (7.06%) of the Fibonacci Retracement is almost aligned with it. Also, the 50 and 100 MA are sloping downwards as if they were indicating that the bear-rally that started when the price couldn't break the 10k line isn't over.
Maybe I'm too stoned, but I will stay tune and see how the day ends. It's important to check if that 200-MA remain as a resistance or if it turns into support.
Paz.
Looking at the 4 hours chart (which is the chart that gives me a better clue of what's going on, and of course reading TA theory, crypto-news and our top-authors, and non-even-authors like yours truly), I see that even though the bulls have been pushing hard for the last couple of hourly sessions, the MA-200 (in red) is playing as a mayor resistance, provided that the .38 (7.06%) of the Fibonacci Retracement is almost aligned with it. Also, the 50 and 100 MA are sloping downwards as if they were indicating that the bear-rally that started when the price couldn't break the 10k line isn't over.
Maybe I'm too stoned, but I will stay tune and see how the day ends. It's important to check if that 200-MA remain as a resistance or if it turns into support.
Paz.