#BitcoinRejectedAt$81K50WeekMA
đš BTC HITS THE 50-WEEK MA â REJECTION OR PAUSE? đ
$BTC has just tagged the 50-week moving average and is facing rejection so far.
The move has been aggressive: Bitcoin climbed roughly 29% in just 8 days, from August 17 to August 25.
Now the chart is showing a warning sign. đ
đŻïž A large upper wick suggests sellers stepped in.
⥠After such a sharp rally, short-term exhaustion is possible.
đ A close above the $82.8K previous high + 50-week MA would significantly strengthen the bullish case.
But the daily candle hasn't closed yet â and that close could provide a much clearer signal.
Can BTC turn the 50-week MA into support, or is this where the rally needs to cool off? đ
$BTC
#bitcoin #BTC #Crypto #BitcoinTrading #TechnicalAnalysis
đš BTC HITS THE 50-WEEK MA â REJECTION OR PAUSE? đ
$BTC has just tagged the 50-week moving average and is facing rejection so far.
The move has been aggressive: Bitcoin climbed roughly 29% in just 8 days, from August 17 to August 25.
Now the chart is showing a warning sign. đ
đŻïž A large upper wick suggests sellers stepped in.
⥠After such a sharp rally, short-term exhaustion is possible.
đ A close above the $82.8K previous high + 50-week MA would significantly strengthen the bullish case.
But the daily candle hasn't closed yet â and that close could provide a much clearer signal.
Can BTC turn the 50-week MA into support, or is this where the rally needs to cool off? đ
$BTC
#bitcoin #BTC #Crypto #BitcoinTrading #TechnicalAnalysis
