BTCUSD weekly S/R according to MAs and Power Corridor
If Bitcoin weekly can hold the 89 SMA at 7000 we can see a test of the 20 SMA at around 8800. We have to break it to have a new bull cycle which can bring Bitcoin in steps from 14K and 20K and to a new ATH over 50K (Upper resistance of the BItcoin Power Law Corridor of growth).
If Bitcoin weekly breaks the 89 SMA at 7000 we can break down to the 200 SMA as seen one year ago. If the 200 SMA breaks the final support is the 2013 top at around 1200. The 200 SMA is at the moment similar to our lower support of the BItcoin Power Law Corridor of growth.
If Bitcoin weekly breaks the 89 SMA at 7000 we can break down to the 200 SMA as seen one year ago. If the 200 SMA breaks the final support is the 2013 top at around 1200. The 200 SMA is at the moment similar to our lower support of the BItcoin Power Law Corridor of growth.
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