BITCOIN Failure to hold the 1D MA50 leads to $60k.

13 jun

Bitcoin (BTCUSD) was rejected yesterday on the 4H MA50 (blue trend-line) and that caused another pull-back that is about to test the 1D MA50 (red trend-line) once again. On Tuesday this level held and is critical to continue to do so as a breach might lead us to $60000.

This is what took place on the April 08 - 19 Channel Down. It is important to note that after the bearish break-out, the price was rejected straight on the 1D MA50, which basically confirmed the continuation to 60k.

We are currently on a similar Channel Down. Do you think the 1D MA50 will hold or break and push BTC to 60k? Feel free to let us know in the comments section below!

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