Just a quick update on my previous post guys.
I still think the probable scenario is for bitcoin to push up and test the 20 EMA around 36k USD but it seems to be taking a little longer than I originally anticipated due to some indecision in the markets.
You can see how nervous retail traders are right now, look how much the trading volume has been decreasing since Monday and the overall state of the current PA which is super wicky, indecisive and really corrective showing indecision between the bulls and bears. (People unsure if this is a false breakout or not)
Unless bitcoin breaks the low at 32.4K or the high at 36k we are just floating around with no real clear direction for the immediate. I'll keep you updated if I see anything in the charts. For now, let's watch these two keys levels.
32.4k and 36k.
I still think the probable scenario is for bitcoin to push up and test the 20 EMA around 36k USD but it seems to be taking a little longer than I originally anticipated due to some indecision in the markets.
You can see how nervous retail traders are right now, look how much the trading volume has been decreasing since Monday and the overall state of the current PA which is super wicky, indecisive and really corrective showing indecision between the bulls and bears. (People unsure if this is a false breakout or not)
Unless bitcoin breaks the low at 32.4K or the high at 36k we are just floating around with no real clear direction for the immediate. I'll keep you updated if I see anything in the charts. For now, let's watch these two keys levels.
32.4k and 36k.