FOR OVER A YEAR THIS IS THE FIRST TIME WE ARE BELOW 200 DAY EMA!
FOR 6 DAYS IN A ROW PRICE ACTION IS HAPPENING BELOW 200 DAY EMA. WHICH IS A HUGE PROBLEM FOR BULLS!
200 DAY EMA IS AROUND 42K AND RIGHT UNDER IT, THERE IS A RESISTANCE AREA AROUND 40700.
FIRST TARGET IS 40700 AND SECOND IS 200 DAY EMA FOR A BULL MARKET START.
EVEN THEN PRICE NEEDS TO BREAKOUT ABOVE 49K AREA WHICH IS ALSO 50 DAY EMA AND CLOSE COUPLE CANDLESTICK ABOVE IT.
UNTIL THEN BTCUSD PAIR AND WHOLE CRYPTO MARKET SEEMS BEARISH TO ME REGARDLESS THE FACT THAT PRICE BROKEOUT ABOVE THE DOWNTREND LINE WITH GOOD VOLUME 3 DAYS AGO!
WE ARE STILL IN A BEAR MARKET!
BUT THIS IS A GOOD THING. YOU CAN MAKE MORE MONEY IN THIS TYPE OF MARKET IF YOU KNOW WHAT YOU ARE DOING!
GOOD LUCK EVERYONE!
FOR 6 DAYS IN A ROW PRICE ACTION IS HAPPENING BELOW 200 DAY EMA. WHICH IS A HUGE PROBLEM FOR BULLS!
200 DAY EMA IS AROUND 42K AND RIGHT UNDER IT, THERE IS A RESISTANCE AREA AROUND 40700.
FIRST TARGET IS 40700 AND SECOND IS 200 DAY EMA FOR A BULL MARKET START.
EVEN THEN PRICE NEEDS TO BREAKOUT ABOVE 49K AREA WHICH IS ALSO 50 DAY EMA AND CLOSE COUPLE CANDLESTICK ABOVE IT.
UNTIL THEN BTCUSD PAIR AND WHOLE CRYPTO MARKET SEEMS BEARISH TO ME REGARDLESS THE FACT THAT PRICE BROKEOUT ABOVE THE DOWNTREND LINE WITH GOOD VOLUME 3 DAYS AGO!
WE ARE STILL IN A BEAR MARKET!
BUT THIS IS A GOOD THING. YOU CAN MAKE MORE MONEY IN THIS TYPE OF MARKET IF YOU KNOW WHAT YOU ARE DOING!
GOOD LUCK EVERYONE!