#BTCUPDATE - 20.4.21
#BTCUPDATE
Taking a longer timeframe look on BTC and it is starting to look a little shakey. We have seen a significant break down on a rising wedge and through a key Daily trendline that has held since December/January.
The 50 EMA has been broken for the first time since October
As previous analysis has suggested it is looking like the 59k/60k is going to show a particularly large AND extended rejection sub 50k and likely to 45k where the 200EMA meets with strong support. I feel there will be a good bounce at 50k but not enough to hold.
This is not to cause FUD but give you prior warning with a bit of a trap that will likely happen at the
59K-60k region with ALT's rallying up to that point.
Hopefully I am wrong and we break back above 60k although general patterns are suggesting otherwise right now.
Taking a longer timeframe look on BTC and it is starting to look a little shakey. We have seen a significant break down on a rising wedge and through a key Daily trendline that has held since December/January.
The 50 EMA has been broken for the first time since October
As previous analysis has suggested it is looking like the 59k/60k is going to show a particularly large AND extended rejection sub 50k and likely to 45k where the 200EMA meets with strong support. I feel there will be a good bounce at 50k but not enough to hold.
This is not to cause FUD but give you prior warning with a bit of a trap that will likely happen at the
59K-60k region with ALT's rallying up to that point. Hopefully I am wrong and we break back above 60k although general patterns are suggesting otherwise right now.
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