On my previous idea i mentioned that if we brokeout below 54500 area with good volume we could go down more.
Right now we are at 100 day ema area around 49k usd.
One can be expect that if price action broke down below the 100 day ema price can go as low as 43500 area.
Right now rsi is at oversold zone and volume is decreasing.
It may mean price action can go to the upside for a period of time if buyers step in with good volume.
If you look at the bigger picture we are experiencing a much needed retrace for a healthier uptrend.
If 100 day ema can support the price action, price can go up around 54500 area.
Right now alts are bleeding a lot and it looks like we entered a sharp bear market for all crypto market.
Until Btcusd finish its downtrend i do not recommend to buy anything.
Wait and be careful but always be on the look out.
Right now we are at 100 day ema area around 49k usd.
One can be expect that if price action broke down below the 100 day ema price can go as low as 43500 area.
Right now rsi is at oversold zone and volume is decreasing.
It may mean price action can go to the upside for a period of time if buyers step in with good volume.
If you look at the bigger picture we are experiencing a much needed retrace for a healthier uptrend.
If 100 day ema can support the price action, price can go up around 54500 area.
Right now alts are bleeding a lot and it looks like we entered a sharp bear market for all crypto market.
Until Btcusd finish its downtrend i do not recommend to buy anything.
Wait and be careful but always be on the look out.
