BTCUSD: 1D MA50 broken after 2 months. Selling isn't over.

Bitcoin may be neutral on its 1D technical outlook (RSI = 46.271, MACD = 810.300, ADX = 25.259) but it just broke under the 1D MA50 for the first time in more than 2 months (February 6th last contact). In the meantime, it crossed under the HL trendline of the Ascending Triangle, so we have a full-scale technical bearish breakout. The RSI pattern looks very much like the January 12th 1D MA50 bearish breakout.

If Bitcoin closes the 1D candle under it, we will wait for the bottom to be formed on the S1 level, always above the 1D MA100 (which supported on the January 23rd low) and buy (should be a around a week after the Halving) targeting a little over the 2.618 Fibonacci extension (TP = 100,000). That was where the March 14th top was priced.

See how our prior idea has worked out:


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