Bitcoin (BTC) Long-term & Mid-term Analysis
As you can see Bitcoin tested Weekly support and EMA21 and so far a not-so-good bounce. still, the Weekly trend is not bearish.
However Daily is starting to change of behavior because when BTC corrected from $58k to $50k, open interest rose up.
On a weekly basis, if $45k breaks, the $38k ~ $32k range test would be highly probable.
But until then Bitcoin could create a very boring range now and just frustrate people.
As you can see Bitcoin tested Weekly support and EMA21 and so far a not-so-good bounce. still, the Weekly trend is not bearish.
However Daily is starting to change of behavior because when BTC corrected from $58k to $50k, open interest rose up.
On a weekly basis, if $45k breaks, the $38k ~ $32k range test would be highly probable.
But until then Bitcoin could create a very boring range now and just frustrate people.
Without Risk and Position Management, You WILL Lose Money.