After making high of 66336 bitcoin started the down trend and broken the recent support zone of 40000-40250,
next value area for btc will be 32000 to 31990
MACD has crossed the zero line indicating bearish signal
RSI has entered the oversold zone
as per VOLUME bears are more dominant then bulls
Cryptos are most volatile assets i switched to EMA 400-500 band & 800 and long term base average line
33485 will be acting as vital area of consolidation or price might create a structure for REVERSAL
LET'S NOT BUY THE DIP BLINDLY instead using some confluence points and waiting for confirmations
next value area for btc will be 32000 to 31990
MACD has crossed the zero line indicating bearish signal
RSI has entered the oversold zone
as per VOLUME bears are more dominant then bulls
Cryptos are most volatile assets i switched to EMA 400-500 band & 800 and long term base average line
33485 will be acting as vital area of consolidation or price might create a structure for REVERSAL
LET'S NOT BUY THE DIP BLINDLY instead using some confluence points and waiting for confirmations
Comment:
as noted the price bounce off from important moving avg