Normally in bull trends, we see the 20W SMA as a validator tool, supporting the next leg of the bullish continuation.
This cycle, BTC has not been in contact with the 20W MA since October.
If we are not able to break 60K level and see yet another pullback (probable given Pi Cycle cross soon) - it is likely to assume 20W would be a key location to visit.
Why is 40K level critical?
- 20W MA
- Pitchfork Blue Channel
- 0.382 fib retrace level.
Cheers!
This cycle, BTC has not been in contact with the 20W MA since October.
If we are not able to break 60K level and see yet another pullback (probable given Pi Cycle cross soon) - it is likely to assume 20W would be a key location to visit.
Why is 40K level critical?
- 20W MA
- Pitchfork Blue Channel
- 0.382 fib retrace level.
Cheers!
