Bitcoin appears to be in a quandry, and coming out of this would be volatile over a large range....
The weekly chart is showing that the weekly 55EMA failed to support BTCUSD breakdown. Technicals indicate some downside, to the support levels as drawn. Looking about 36K bounce or break support.
The daily chart is indeed in a retracement mode, and is looking at 38K as an immediate support. RPM points to a probably failure at this level.
Slightly bearish at this point, pending more downward momentum more than strong upside.
The weekly chart is showing that the weekly 55EMA failed to support BTCUSD breakdown. Technicals indicate some downside, to the support levels as drawn. Looking about 36K bounce or break support.
The daily chart is indeed in a retracement mode, and is looking at 38K as an immediate support. RPM points to a probably failure at this level.
Slightly bearish at this point, pending more downward momentum more than strong upside.
