BitcoinShort
bitcoin swing - MA crossing
Hi guys
As you know, Bitcoin is swinging between $ 41,000 and $ 28,000, which is considered resistance and support.
But the main question is whether Bitcoin will go out of this range, ascending or descending?
Two possible scenarios
Scenario 1: Bitcoin will break up the resistance of $ 41,000 and rise to $ 72,000 as the first target
Scenario 2: Bitcoin will break down the $ 28,000 support and fall to about $ 20,000 as the first target
I find the second scenario more likely.
My idea is that: We can see 7 and 30 MA crossing at weekly timeframes, which amplifies the chance of the second scenario.
As you know, Bitcoin is swinging between $ 41,000 and $ 28,000, which is considered resistance and support.
But the main question is whether Bitcoin will go out of this range, ascending or descending?
Two possible scenarios
Scenario 1: Bitcoin will break up the resistance of $ 41,000 and rise to $ 72,000 as the first target
Scenario 2: Bitcoin will break down the $ 28,000 support and fall to about $ 20,000 as the first target
I find the second scenario more likely.
My idea is that: We can see 7 and 30 MA crossing at weekly timeframes, which amplifies the chance of the second scenario.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.