Major bearish cross with price falling under the 50-day moving average on weekly timeframe.
We closed last week under the 50MA. If we don't get back above it this week, then it will be very hard to be bullish on this chart.
The 100MA is found at $30,000 which would provide a good target for this downtrend reversal. Hope for the best, but prepare for the worst.
When MACD on weekly crossed to the bearish side, that was the first warning. This is the second.
I guess the X-mas gift will be buying BTC at a discount. I would be surprised to see a quick reversal considering this price action and likely we will close 2021 with a bearish chart.
Time will tell.
Like and follow if you liked my idea!
We closed last week under the 50MA. If we don't get back above it this week, then it will be very hard to be bullish on this chart.
The 100MA is found at $30,000 which would provide a good target for this downtrend reversal. Hope for the best, but prepare for the worst.
When MACD on weekly crossed to the bearish side, that was the first warning. This is the second.
I guess the X-mas gift will be buying BTC at a discount. I would be surprised to see a quick reversal considering this price action and likely we will close 2021 with a bearish chart.
Time will tell.
Like and follow if you liked my idea!
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