BTCUSDT 39700 Quick Update May 05 2022
Monthly Momentum negative
The 3w time frame macd still negative and price still struggling to stay above the 21em
W-D momentum negative, price still struggling to stay above the W21ema
W-D momentum negative
Based on the higher time frame momentum, 30k is still the first directional support than M50ema.
The two most important macro supports for BTC are the M21ema & M50ema
If the momentum changes from this M21ema support (37-35K support for the last 4M), will flip BULL with the trend.
6-12H time frame is showing a positive momentum. Resistance W21-D100 about 42-43k
Monthly Momentum negative
The 3w time frame macd still negative and price still struggling to stay above the 21em
W-D momentum negative, price still struggling to stay above the W21ema
W-D momentum negative
Based on the higher time frame momentum, 30k is still the first directional support than M50ema.
The two most important macro supports for BTC are the M21ema & M50ema
If the momentum changes from this M21ema support (37-35K support for the last 4M), will flip BULL with the trend.
6-12H time frame is showing a positive momentum. Resistance W21-D100 about 42-43k
