BTC/USDT (EMA-19 is Resistance?)

💎Technical Analysis Summary💎


BTC/USDT

-Bitcoin has been trading sideways for the past two weeks now
-Short term resistance at 31k dollars and support at 28k dollars
-Using the EMA19, the price respected this resistance from April 20 until it breaks support
-If the previous history repeats itself, a potential rejection and a daily bear flag might be in play
-This is technically bearish because the market momentum is to the downside since April
-If that will happen, we can see another leg down to the 26k dollar range by June
-If we want to see a bullish sign of strength and in terms of price action
-The buyers must break the current resistance at 32k dollars and form new support from there
-There is tons of work to be done and a lot of pressure is affecting the crypto space right now
-So please always manage your risk and avoid revenge trading if you got stopped out last time
-Good luck everyone and stay safe!



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