BTC just touched the 50 Moving Average on the Weekly chart (more relevant) and retracted quickly.
As of now it doesn't look like it has the "umpf" to go above it.
We will see in the next days.
My personal feeling is that the bulls need to regroup at this time as more buying power can be gathered at lower prices.
This is not trading advice, just my personal opinion.
As of now it doesn't look like it has the "umpf" to go above it.
We will see in the next days.
My personal feeling is that the bulls need to regroup at this time as more buying power can be gathered at lower prices.
This is not trading advice, just my personal opinion.
Check the price action when touching or breaking trough the MA50 and MA200 in the past (visible on chart).
I expect the break to be on the upside when it happens.