Looking at BTC on the weekly time frame we can see that a death cross has appeared (50 SMA red line) crossing below (200 SMA purple line) which can be seen as a bearish indicator for many
For me the death cross revealing itself is not too interesting but what is, is 'where' the death cross has decided to play out, which is at the August high 25k resistance zone.
In my view a close above 25300 on the weekly could momentarily invalidate this death cross but a struggle to close above that level for me carries a higher risk of lower prices to come for BTC.
All the best
For me the death cross revealing itself is not too interesting but what is, is 'where' the death cross has decided to play out, which is at the August high 25k resistance zone.
In my view a close above 25300 on the weekly could momentarily invalidate this death cross but a struggle to close above that level for me carries a higher risk of lower prices to come for BTC.
All the best
