This weekly candle for the weekend hasn’t closed yet. The orange marker is at 63,220. These past few weeks, price keeps dipping downward into it, and rebounds each time are lower than the last. Spot is now just above 63,000, sticking right up against this level.
In past bear markets, after mid-August the chart often starts to deliver another downward leg on its own. In July, you could still buy it back around the 200-week moving average. This month, that momentum is gone. First, let’s see whether the candle can hold when it closes on Sunday night.
$BTC
#BTC
In past bear markets, after mid-August the chart often starts to deliver another downward leg on its own. In July, you could still buy it back around the 200-week moving average. This month, that momentum is gone. First, let’s see whether the candle can hold when it closes on Sunday night.
$BTC
#BTC