BTC Bearish Outlook: 200 Week SMA

30 Jul

We are well above the 200 week SMA and are stuck in the lower high, lower low channel down. There is a case to be made that we follow this channel all the way down to the 200 week SMA (forecast extended in the pinkish color from the yellow) where we bounce around in the 48K - 52K range for a while before a bullish reversal.