Hey guys! Just a quick post for you guys today here so let's get down to the simple stuff.
🔥Bitcoin has managed to keep above $19,000 now for a bit which is great to see but also shows us that if we do end up moving or falling below $19,00 then we could see another push back down to that $18,700 zone of strong support before seeing a bounce or fall depending on which side the scales may be tipped towards.
🔥Our EMA's have entered which is great but we need that 200 EMA and well in the least to say it's a bit of a distance away right now and that's what we'd need to help pull us out of this descending channel before things get worse and we get dragged below that support of $18,700 which then could possibly see us looking at a down move to $17,900 where a lot of volume is indicating that there are likely a lot of stop limit/loss orders and that's where a lot of liquidations could possibly hit so you have to take everything into consideration basically.
🔥This is gonna be one of those moments we have to sit and let the market do it's thing being that even the market itself has no idea what it's doing with investors question Inflation yet also trying to make profits off of these swing moves. If we move below that $19,000 just be ready for anything honestly, we're still within the descending channel again and with these EMA's it's fair game for either team.
Thank you guys for tuning in and if you'd like to leave a like or follow it'd be much appreciated, thank you!
~ Rock
🔥Bitcoin has managed to keep above $19,000 now for a bit which is great to see but also shows us that if we do end up moving or falling below $19,00 then we could see another push back down to that $18,700 zone of strong support before seeing a bounce or fall depending on which side the scales may be tipped towards.
🔥Our EMA's have entered which is great but we need that 200 EMA and well in the least to say it's a bit of a distance away right now and that's what we'd need to help pull us out of this descending channel before things get worse and we get dragged below that support of $18,700 which then could possibly see us looking at a down move to $17,900 where a lot of volume is indicating that there are likely a lot of stop limit/loss orders and that's where a lot of liquidations could possibly hit so you have to take everything into consideration basically.
🔥This is gonna be one of those moments we have to sit and let the market do it's thing being that even the market itself has no idea what it's doing with investors question Inflation yet also trying to make profits off of these swing moves. If we move below that $19,000 just be ready for anything honestly, we're still within the descending channel again and with these EMA's it's fair game for either team.
Thank you guys for tuning in and if you'd like to leave a like or follow it'd be much appreciated, thank you!
~ Rock
