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• This is the first time 50MA is crossing 100MA downwards since 03-MAR-2018. This mostly signifies a downfall.
• Also, BTC tried hard to get over the falling trendline but has been rejected more than twice in a row.
• RSI and MACD on 1H also depicting bearish zones without divergences from the price.
The next major support is at 8200-8300 and then 7700. Major ...
1H: 26 Moving Average has just started crossing 50 MA upwards.
4H: Resistance at 26MA. We can see 7200 soon.
A bullish formation can be seen.
The yellow trend line has not been broken since 2017. Zoom in and witness the support level is around 6445. This is a very crucial support level. During Feb low (6000), the trend line was still active. MACD also suggesting sell-off and RSI suggesting oversold.
• On 4H chart, BTC is forming a double bottom with the base at 6000. If this is followed, ...