Bitcoin: Looking weak

May 15, 2021

Bitcoin has held the 128d MA for a little time. But bitcoin didn't see a bounce or much volume on that level. Right now we are under the 128d MA on the hourly timeframe, on 13may the deathcross has been formed and there is also a possible bearflag forming wich is a bearish pattern.

I'm looking at the support zone between 45-42K if it closes below 128d MA on the daily at end of day.

May 16, 2021

Note

Only 9 hours left for weekly candle close. It looks like it will close above the 21W EMA @46.4k.

Bullish scenario is that we keep getting weekly candle closes above the 21W EMA until we eventually see more volume to get a good bounce off the 21W towards new all time high's.

May 17, 2021

Note

Until now bitcoin has held 42k perfectly

Bullish scenario: We are in the bottom area of this correction and consolidate above 40-42k

Bearish scenario: we close below 40k on the dailytime frame and go down to next heavy support @30-35k