Bitcoin: Weekly Candles closed below 100MA,What's next for BTC..
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Bitcoin Technical Analysis Previously, On Nov 2018, When the BTC weekly candle closed below the 100(Moving Avarage), We had a big move to the Downside till BTC found support at 200MA(Moving Avarage),and market started a new Bull run upto $13,800.Recently again in the month of Nov 2019, BTC's weekly candle closed below 100MA(Moving Avarage) and 100MA is also acting as a strong resistance for BTC bulls, If the market rejects from 100MA we can Expected a Impulse move to the Downside till 200MA. and market is also following a strong bearish trend ,so we might see a strong down move till 200MA. And Bitcoin is at a strong support level ($7,000-6,000).Bulls need to hold the current Support level and a strong Weekly Bullish Candle to close above 100MA to change market scenario.and change the market's current bearish trend to bullish.And If market hits and found support at 200MA, We might see the start of another bull run of btc...
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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.