Btc looking pretty bullish, but wait? A dead cross on the daily
Hey guys, btc has been doing some work and its looking quiet bullish right now but i just want to point out the danger here to you.
We are about to get a dead cross on the daily which is considered bearish.
We are right at the median of our regression channel.
We are back to our 6,8 - 7k resistance zone and getting rejected here will give us a double top.
If you draw a trendline from the daily candles before the crash you can see this also lines up nicely adding even more resistance.
Right now we are above the 50 and 100ma on the 4hr which is bullish, and if we break above 7k testing the 200ma would be next which is at 7700$ and the top of our channel right now.
But if this dead cross plays out as it should it can really blow btc right back to 4k level..
are we gonna break above 7k and reject the dead cross or is btc about to fall of a cliff?
let me know in the comments.
We are about to get a dead cross on the daily which is considered bearish.
We are right at the median of our regression channel.
We are back to our 6,8 - 7k resistance zone and getting rejected here will give us a double top.
If you draw a trendline from the daily candles before the crash you can see this also lines up nicely adding even more resistance.
Right now we are above the 50 and 100ma on the 4hr which is bullish, and if we break above 7k testing the 200ma would be next which is at 7700$ and the top of our channel right now.
But if this dead cross plays out as it should it can really blow btc right back to 4k level..
are we gonna break above 7k and reject the dead cross or is btc about to fall of a cliff?
let me know in the comments.