BTC Update: Daily TF Sept 6
Bitcoin failed to break above the 9SMA today & broke down to test the Jul 13 low @ $18.9K
Things to note:
- we've had a re-test and bounce from the Jul 13 low @ $18.9K
- next bearish target IF Jul low doesn't hold is a re-test of the June low @ $17.6K
- bulls have FAILED to break the 9SMA to the upside for 12 daily candles in a row
- bullish target #1 is a reclaim of the 21SMA @ $20.7K
- bullish target #2 is to get back into the BF channel and move ABOVE the 50 & 100SMA & close above them between $22k - $22.8k
Bitcoin failed to break above the 9SMA today & broke down to test the Jul 13 low @ $18.9K
Things to note:
- we've had a re-test and bounce from the Jul 13 low @ $18.9K
- next bearish target IF Jul low doesn't hold is a re-test of the June low @ $17.6K
- bulls have FAILED to break the 9SMA to the upside for 12 daily candles in a row
- bullish target #1 is a reclaim of the 21SMA @ $20.7K
- bullish target #2 is to get back into the BF channel and move ABOVE the 50 & 100SMA & close above them between $22k - $22.8k