As we saw last week, the climb to the new ATH All Time High created channels with highs and lows to the upside.
The breaking of this channel was inevitable to keep Bitcoin's price trend healthy towards new highs.
What will be the price level where correction will end?
If we decrease the TimeFrame and go into 30 minutes we see that around 6pm (UTC + 1) the so-called crossing between fastest EMA (EMA 50), crosses below the slower EMA(EMA 200).
In the last few hours we see the fastest EMA (EMA 50) acting as a resistance and rejecting the price several times downwards.
We expect a price correction throughout this week?
Will we see a reversal around $ 48,000 or $ 50,000 and then recover position towards $ 55,000 by taking an upward channel to the new ATH?
We'll see
The breaking of this channel was inevitable to keep Bitcoin's price trend healthy towards new highs.
What will be the price level where correction will end?
If we decrease the TimeFrame and go into 30 minutes we see that around 6pm (UTC + 1) the so-called crossing between fastest EMA (EMA 50), crosses below the slower EMA(EMA 200).
In the last few hours we see the fastest EMA (EMA 50) acting as a resistance and rejecting the price several times downwards.
We expect a price correction throughout this week?
Will we see a reversal around $ 48,000 or $ 50,000 and then recover position towards $ 55,000 by taking an upward channel to the new ATH?
We'll see
