- For the past six weeks BTC support has very reliably been the daily 89 .
- Since we topped out on 26th June we have entered into a , between the 89 and a downward sloping resistance line.
- The 21 has been a clear indicator of if we are or within the .
In the next month, though likely much sooner, BTC will have to decide which direction it wants to break out of the . We are due a test of the 21 on the weekly, which would bring us down to around $9000... if that holds, the likelihood of a strong move upwards and the bull run finding renewed strength is greatly increased. If the weekly 21 fails, well you shouldn't need me to tell you what a strong indicator of the trend changing that would be.
Here is the link for my free EMA/SMA indicator, offering key areas of potential strong .
Also save crucial space on your Trading View chart by utilising my free RSI and StochRSI indicator which overlays both in a clear and helpful fashion.
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