BTC losing its virility by making marginally higher highs and higher lows. it's looking a lot less like an erect penis and more like a limp dick.
Also BTC on the daily broke below the 55 EMA (lowest EMA on the ribbons) of which it has not done since September 2020. and after it did back then, it went down to test the 200 EMA.
Currently, the 200 EMA is sitting at $39k and inching its way to the $41k level which was a major peak and bottom this year and will now be acting as a strong support level.
On top of that. a Fib retracement from this current high all the way down to march 2020 lows of around $3800, makes the 0.618 level also at $41k.
All those 3 major points of confluence make it for an extreme level of support and possible reversal back to continue the trend for higher highs in the later half of this year.
Also BTC on the daily broke below the 55 EMA (lowest EMA on the ribbons) of which it has not done since September 2020. and after it did back then, it went down to test the 200 EMA.
Currently, the 200 EMA is sitting at $39k and inching its way to the $41k level which was a major peak and bottom this year and will now be acting as a strong support level.
On top of that. a Fib retracement from this current high all the way down to march 2020 lows of around $3800, makes the 0.618 level also at $41k.
All those 3 major points of confluence make it for an extreme level of support and possible reversal back to continue the trend for higher highs in the later half of this year.