That 4h bouncing off the 25 and 100 MA crossover attempt is poetic.
(Charting freaks p0rn)
Discussion
Moon or dead? I can't read charts.
At the bottom you see the 7MA in orange which signalled for support for ~16h. Right now Bitcoin is testing resistance at the 25- and 100-day moving average. Opening the next 4h candle, in 45 minutes, above those MA's will signal support and trigger their crossover. Opening the path to restest the 71.3 level.
Opening below will signal too much resistance (at this time) and we'll see pullback to the orange 7MA to retest support. I call this the support vs resistance game which would last until either side dominates. The MA's basically indicate the supply vs demand powerplay.
Hope this made any sense.
MARS 💹 for u only
I would be very cautious. It's only bullish if it breaks ATH.
65 to 35 the top is in. It's still deciding. But the longer it waits to break ATH, the more likely we've topped.
Indeed. We'll see what will happen for now in about 45 min. The MA's will either cross and we'll retest res above or we open bellow and pullback to the 7 MA for support. At the end of the, it's just algos doing their thing. I love watching when keypoint decisions are about to happen.
keypoint = key level
Gonna take a lot longer than 45min for any meaningful resolution. Could be months. A lot of Bitcoiners are sleeping to the risk they're taking.
If we've topped, we have a LONG way down to go.
I'm not doing a long term prediction.
I'm observing the 4h chart with the 25 and 100 MA being imminent. The next candle will set the direction we're taking. Either to retest resistance at 71.3k or support at the 7MA which would start the 7 vs 25 MA support vs resitance game.
finally got above DEVIL's NO $66600 for sure now