Happy New Year! Bitcoin is starting the year off still looking a little heavy and hasn’t quite found a bottom yet after being stuck in a downtrend for almost two months since making a new all time high in November. The 200 period moving average is still the key level for me to watch
In this weeks video I discussed BTC, ETH, TOTAL, SOL, AVAX, LUNA, MANA, MIR, MATIC, OXBRW Down start to the week so far for crypto and not really seeing any signs of a reversal yet. Trend is still down but above 200 moving average in most cases but nothing particularly bullish about price action that
BTC underwent a strong sell off last Friday and Saturday after several days of being unable to break out of it’s downtrend line. Overleveraged longs were surely liquidated, triggering a deep panic sell off that even got down to the 42k area before subsiding. Today we’re sitting around $49k with a dead cat bounce
BTC price is pretty close to where we started last Monday which I find funny because it was actually a pretty volatile week with Bitcoin running up on Thanksgiving only to dump the next day as deep as $53.6k. In came a bullish inside bar after that and here we are on the 3rd
When I said that there were signs of weakness showing in the BTC chart last Monday, I thought that was a pretty reasonable take but didn’t necessarily think price would nuke practically right after I finished writing my post. Nonetheless that’s what happened and I was happy to at least be thinking in the right
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