Last candle on the 4-day chart above just printed a Gravestone DOJI candle. She's going down captain.
First test will be $10.5k, however I don't expect it to hold. A test of the 21-week moving average is more likely, which is currently around the $8k mark. The 1-day chart below suggests we might see support on the RSI support trend line (orange line) by August 23rd, which would cause price action to retest $12k.. again. But I think we now know if we were going to break $12k with conviction we'd have down it already, and with volume.
First test will be $10.5k, however I don't expect it to hold. A test of the 21-week moving average is more likely, which is currently around the $8k mark. The 1-day chart below suggests we might see support on the RSI support trend line (orange line) by August 23rd, which would cause price action to retest $12k.. again. But I think we now know if we were going to break $12k with conviction we'd have down it already, and with volume.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Here is the same picture now with price action - see what followed?