BITCOIN is looking prepped and ready for a relief rally!
Bitcoin is looking prepped and ready for a relief rally after the 0.75bps rate hike last week.
I expect a test of 200ema on the weekly, which coincides with 50ema (green) on the daily. This is where both sides of the market need the price to go in order to have a good idea of what to side to play next. Bears will be looking for rejections at these levels, and bulls will be looking for a continuation of the reversal upside.
All of the lines you can see are a mix of Fibonacci Speed Resistance fans, micro and macro trend.
Enjoy!
I expect a test of 200ema on the weekly, which coincides with 50ema (green) on the daily. This is where both sides of the market need the price to go in order to have a good idea of what to side to play next. Bears will be looking for rejections at these levels, and bulls will be looking for a continuation of the reversal upside.
All of the lines you can see are a mix of Fibonacci Speed Resistance fans, micro and macro trend.
Enjoy!
