This weekly close is the most important one in a very long time. Right now, Bitcoin has closed above the 1D 100EMA and retested in, for the first time since the top. Every time it has done this, after the 1W RSI has reached oversold, it has marked the bottom. We are also above the very important level of $74,400, which HTF bullish structure and the 2025 low. If we close above that, its bullish. If we close above both that and the 100D EMA, even more so If we close below $74,400 it will confirm weakness, a SFP, and it will be pretty bearish. I'll be looking for local shorts at that stage and evaluating the next levels of interested support. Keep it simple guys.
Share
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.