$BTC continues to hold above the crucial 21-Day and 50-Day MA's.
This is a strong signal for the markets to be betting on the long side of this asset, however, it's still a little fragile.
I'd much prefer to see a strong move to $66,000-67,000 over the next 1-3 days to see a continuous bid coming in.
Wednesday: FOMC meeting, usually a risk-off appetite prior to the event and then a risk-on appetite after.
If $67,000 breaks, the path towards $73,000-75,000 seems imminent.
#bitcoin #BTC #Trend...
$BTC Update 🚨
As described in my previous post, price lost the $65K level.
We are now seeing the anticipated retest of that key level, as well as the 0.5 Fib level of the recent pullback.
So far, price is respecting this area as resistance and we're already seeing a small rejection. If price closes back below the grey zone, I'm confident we can view this move as a proper bearish retest.
In that case, my main target remains the $62K–$60K zone, where the majority of liquidity currently sits.
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