BTC - The 5th challenge to Damon's Downtrend.

Red line is the Fed rate bear trend. If the bulls dont push through the red line here, we're likely looking at sideways trading for a bit or maybe a quick leg lower to $33k-30k. If global markets keep showing green like Monday, and risk on assets like crypto don't sell off, we'll likely see confirmation that January 24ish was the bottom.

Thoughts?

Kommentera:

So far so good. I expect some resistance at $50k since we'll see psychological resistance plus both the 100 and 200 day MA. At that point we'll find out if we're trading sideways or exploding upward.