BTCUSD long term analysis on the weekly time frame
BTCUSD has been supported perfectly on the weekly 200MA as I discussed in my previous post in 2019
The 200MA has proved to be a perfect entry on the corona dump.
As one can see, the downward sloping trendline resistance has been broken.
Also the 10000-10500 area which was proving to be a major resistance zone has been flipped as support which confirms the bull run
For buying one can consider taking position on the retest of the weekly 21EMA.
The bigger parabolic moves and price discovery are highly likely to be seen in 2021
The 200MA has proved to be a perfect entry on the corona dump.
As one can see, the downward sloping trendline resistance has been broken.
Also the 10000-10500 area which was proving to be a major resistance zone has been flipped as support which confirms the bull run
For buying one can consider taking position on the retest of the weekly 21EMA.
The bigger parabolic moves and price discovery are highly likely to be seen in 2021
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