BULLISH:
All it takes is 1 bullish day with a breakout
above 50 MA and price likely continues up
to next resistance likely around 3000 at
100 & 200 MA.
If that happens and it continues higher
bitcoin will likely take off higher as well
and potentially reach up to around 9000
BEARISH:
A breakdown from resistance of the 50 MA could
send price down to test prior resistance as support
or a retest of the prior swing low or a stop hunt
below that. Likely not new lows due to already retracing
55% overall from the current bear market bottom.
(Which historically indicates the bear market has bottomed.)
All it takes is 1 bullish day with a breakout
above 50 MA and price likely continues up
to next resistance likely around 3000 at
100 & 200 MA.
If that happens and it continues higher
bitcoin will likely take off higher as well
and potentially reach up to around 9000
BEARISH:
A breakdown from resistance of the 50 MA could
send price down to test prior resistance as support
or a retest of the prior swing low or a stop hunt
below that. Likely not new lows due to already retracing
55% overall from the current bear market bottom.
(Which historically indicates the bear market has bottomed.)