Bitcoin: The show must go on

19 במאי 2021

Or not? We well see. However! We are still in a bull market (dancing on the edge, but still), and this is the last line of defense. Bulls have to defend 40k area unless more downside is on the radar (bear market territory). Tha fact that this is the first touch of the 200 EMA in this bull market and the course approached important technical area, I am calling a long from here now. On the weekly, the current correction is more likely an ABC correction after a 5 wave cycle, which indicates strong upside momentum soon. RSI is oversold as well on the daily, price is at an important support of 40k (also previous breakout and psychological level).