Hey Guys,
BTC price has fallen around 15% over the last 48 hours reaching the 9900k area, both crypto and traditional market have seen a change in trend.
For btc the macro its still bullish, we just hit the weekly 21 ema and as long the price holds above btc its still fine
On the short term for the bullish side, the resistance at 10.2 area is holding the price and the indicators are quiet beaten, stochs will turn back up as long the price closes the next 4hr candle above 10.4k, also the jewel and volatility are signaling that btc likely did reach the local bottom so its very likely a test to the 10.5k area which it is a very important price point, regaining that on the daily candle closure will improve the chances that btc will likely retest the previous breakout and resistance at this point at 11.1 area.
On the bearish side, a daily candle close below 10.2 area will likely trigger a retest of the previous low at and even lower at the next resistance area 9.8k/9.6k, which will coincide with the CME gap and also the daily 200 ema.
BTC price has fallen around 15% over the last 48 hours reaching the 9900k area, both crypto and traditional market have seen a change in trend.
For btc the macro its still bullish, we just hit the weekly 21 ema and as long the price holds above btc its still fine
On the short term for the bullish side, the resistance at 10.2 area is holding the price and the indicators are quiet beaten, stochs will turn back up as long the price closes the next 4hr candle above 10.4k, also the jewel and volatility are signaling that btc likely did reach the local bottom so its very likely a test to the 10.5k area which it is a very important price point, regaining that on the daily candle closure will improve the chances that btc will likely retest the previous breakout and resistance at this point at 11.1 area.
On the bearish side, a daily candle close below 10.2 area will likely trigger a retest of the previous low at and even lower at the next resistance area 9.8k/9.6k, which will coincide with the CME gap and also the daily 200 ema.
