BTC Trading back at the Weekly 200MA & EMA. These do tend to get tested at some point in a new trend but in previous cycles this usually happened quite a bit later in the cycle.…
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$BTC Trading back at the Weekly 200MA & EMA. These do tend to get tested at some point in a new trend but in previous cycles this usually happened quite a bit later in the cycle. I would have expect…
$BTC Trading back at the Weekly 200MA & EMA. These do tend to get tested at some point in a new trend but in previous cycles this usually happened quite a bit later in the cycle. I would have expected the low to mid $70Ks to give more support than they did, but the sell off has been relentless once it started accelerating. Nothing we've never seen of course, but this market is always good at surprises, both positively and negatively. With that said, the weekly candles really need to hold on to this area. Below this point all the levels that tend to hold on a higher low retest would have failed. Keep in mind, wicks below do happen so wait out the actual candle closes. For spot $BTC I am comfy just holding, I bought most between $60K-$70K earlier this year and never intended on selling that any time soon anyways. Even if we go lower that doesn't change anything for my long term investment horizon. We will see what we get as always. Zooming out is recommended in these cases.
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