Bitcoin made a high of around $19.5k and crashed by about 15% from there. This indicates a shift to short-term bearish sentiment.
21 Week moving average is around $12500. In 3-4 weeks, it would increase to $13800. Bitcoin should take support from the 21-week moving average and 38.2% Fibonacci level of $13.8k which is our target.
If the high of $19.5k is taken down, then the short position must be closed.
21 Week moving average is around $12500. In 3-4 weeks, it would increase to $13800. Bitcoin should take support from the 21-week moving average and 38.2% Fibonacci level of $13.8k which is our target.
If the high of $19.5k is taken down, then the short position must be closed.
Trade active:
Shorted at price: $17744.2