BTCUSDT $27500 Weekly update May-08- 2023 #19
BTCUSDT ($27500) is looking to break its 3D21ema while the 3D macd is negative. Price is also below the 2D21ema.
This could be the start of the end of the 6M Cycle (Nov2022-May2023)
Short/sell range entry 27400-27700
Targets
24k-0.382fib
22k-0.50fib
SL 30.3K (Just above MAY's high 29.9k)
This first wave of the macro uptrend from the macro bottom could be finished.
But since the w MACD is still positive, not taking a risk above 30.3k because if bulls find a strong rebound, price could still attempt to retest the 35k
This could be the start of the end of the 6M Cycle (Nov2022-May2023)
Short/sell range entry 27400-27700
Targets
24k-0.382fib
22k-0.50fib
SL 30.3K (Just above MAY's high 29.9k)
This first wave of the macro uptrend from the macro bottom could be finished.
But since the w MACD is still positive, not taking a risk above 30.3k because if bulls find a strong rebound, price could still attempt to retest the 35k
