Bitcoin Support
Bitcoin has some support around the 0.382 level.
More importantly, The red line (200 SMA) has seen recoveries follow three times (light blue) and potentially a forth time as this post is being written. Each time the 4hr candle touches down on the 200 SMA btc has seen a recovery.
This is a KEY indicator to watch.
Further, the last two times the 200 SMA was touched BTC recovered up 4 retracement levels. If that trend continues we can expect to see 19000 btc within a week. This is based purely upon analysis, not news or opinion.
Also: RSI is pretty oversold on 4hr candles, also sign of a potential bull run.
Important note: The last time the 200 SMA was crossed was around Sept. 14-24 during the China crypto crackdown. Four months is a long time in the crypto world.
More importantly, The red line (200 SMA) has seen recoveries follow three times (light blue) and potentially a forth time as this post is being written. Each time the 4hr candle touches down on the 200 SMA btc has seen a recovery.
This is a KEY indicator to watch.
Further, the last two times the 200 SMA was touched BTC recovered up 4 retracement levels. If that trend continues we can expect to see 19000 btc within a week. This is based purely upon analysis, not news or opinion.
Also: RSI is pretty oversold on 4hr candles, also sign of a potential bull run.
Important note: The last time the 200 SMA was crossed was around Sept. 14-24 during the China crypto crackdown. Four months is a long time in the crypto world.
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