Weekly Down Trend| Low Volume| EMA Cross| Key Levels!
Hello Traders!
Today’s chart will be on BTCUSD which is testing a critical level where a break bullish can negate this long weekly bear structure, as the lower high trajectory will be broken.
Points to consider,
- Weekly trend bearish
- .50 Fibonacci as resistance
- EMA’s as support
- Stochastics in lower regions
- RSI hitting resistance
- Volume declining
The weekly trend is bearish with consecutive lower highs in place, market structure needs to change for a bullish bias. The .50 Fibonacci is a crucial level to break, BTC needs to close above this to negate the structure.
EMA’s currently crossing as support, last cross confirmed a bull run, and probabilities are similar in current price action
Stochastics are in lower regions can stay here for an extended period of time, however lots of stored momentum to the upside. The RSI is hitting its resistance, key indicator in the trend as a break will greatly increase the probabilities of a bull run.
The volume is declining, which signifies that an influx in volume is imminent, especially at these current technical levels.
What are your thoughts?
Please leave a like and comment,
And remember
“Money matters, but not as much as you probably think.”
― Yvan Byeajee
Today’s chart will be on BTCUSD which is testing a critical level where a break bullish can negate this long weekly bear structure, as the lower high trajectory will be broken.
Points to consider,
- Weekly trend bearish
- .50 Fibonacci as resistance
- EMA’s as support
- Stochastics in lower regions
- RSI hitting resistance
- Volume declining
The weekly trend is bearish with consecutive lower highs in place, market structure needs to change for a bullish bias. The .50 Fibonacci is a crucial level to break, BTC needs to close above this to negate the structure.
EMA’s currently crossing as support, last cross confirmed a bull run, and probabilities are similar in current price action
Stochastics are in lower regions can stay here for an extended period of time, however lots of stored momentum to the upside. The RSI is hitting its resistance, key indicator in the trend as a break will greatly increase the probabilities of a bull run.
The volume is declining, which signifies that an influx in volume is imminent, especially at these current technical levels.
What are your thoughts?
Please leave a like and comment,
And remember
“Money matters, but not as much as you probably think.”
― Yvan Byeajee
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