While I think BTC may be starting now a major correction akin to those in January and February, we should bear in mind two other things:
1) On the BTC Dominance chart, this last drop coincides with a historical support level that was important twice in the past: 03 April 2019, and 23 September 2018. The next major support level down dates to 29 March 2018.
2) On the BTC money flow index, the trendline marked has until now provided a bounce to the upside. We have broken down through this line at present. Nonetheless, there is strong upside pressure below it. An indicator to watch in the days ahead.
Feel free to comment.
1) On the BTC Dominance chart, this last drop coincides with a historical support level that was important twice in the past: 03 April 2019, and 23 September 2018. The next major support level down dates to 29 March 2018.
2) On the BTC money flow index, the trendline marked has until now provided a bounce to the upside. We have broken down through this line at present. Nonetheless, there is strong upside pressure below it. An indicator to watch in the days ahead.
Feel free to comment.
AgitationZone | TA-focused cryptocurrency Discord channel discord.gg/atGcaRzz
