🔥 Bitcoin 20-Week SMA Break Out: Massive Potential
Around a week ago I made an analysis on BTC and the fact that it was potentially breaking out through the 20-week SMA. Back then the bulls didn't have power to push through, but with the news of rising unemployment they've finally managed to get through it.
Classically, the 20-week SMA is used to determine whether were in bullish or bearish market conditions. This could be the first successful break out since August 2021!
In case we close the week above the 20-week SMA, I'm looking at the targets in blue. I think it's possible that $17.5k was indeed the bottom, so the path of least resistance is likely up from here.
Do you think that $17.5k was the bottom?
Classically, the 20-week SMA is used to determine whether were in bullish or bearish market conditions. This could be the first successful break out since August 2021!
In case we close the week above the 20-week SMA, I'm looking at the targets in blue. I think it's possible that $17.5k was indeed the bottom, so the path of least resistance is likely up from here.
Do you think that $17.5k was the bottom?
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