BTC Weekly 20 MA Touch: Prepare for Volatility

23 Jun

Bitcoin (BTC) has recently touched the Weekly 20 Moving Average (MA) and is currently trading slightly above this critical level. As we move into the next trading day, the 20-week MA is expected to shift upwards. This movement will act as a catalyst, potentially leading to significant price action in either direction.

Trading Strategy:

• Bullish Scenario: If BTC maintains above the 20-week MA with increasing volume, consider long positions targeting key resistance levels.
  
• Bearish Scenario: If BTC fails to hold above the 20-week MA and volume increases on downward movements, short positions may be warranted targeting previous support levels.