BTC - Critical point
Since losing market structure we are not back at the ultra critical $18k resistance that stood as support for so long. The upside is now that we have the 50DEMA coming in as support that could be a small indication to break back up. Ultimately we would have to clearly break and hold above $19k for really strong continued upward move and possible to confirm a complete reversal.
This is all ignoring any external fundamentals and news though which we know can change the tide at any time
Key Factors:
- Broken and holding the 50DEMA showed a key support/resistance. It could be a potential indication to the next push up
- Possible Retest and big breakdown in coming if we cannot break back above $18k
Since losing market structure we are not back at the ultra critical $18k resistance that stood as support for so long. The upside is now that we have the 50DEMA coming in as support that could be a small indication to break back up. Ultimately we would have to clearly break and hold above $19k for really strong continued upward move and possible to confirm a complete reversal.
This is all ignoring any external fundamentals and news though which we know can change the tide at any time
Key Factors:
- Broken and holding the 50DEMA showed a key support/resistance. It could be a potential indication to the next push up
- Possible Retest and big breakdown in coming if we cannot break back above $18k
