BTC Long Term Perspective
The price of BTC has shown a lot of weakness after a week long fud storm. The ema ribbon is in a complete downtrend as the moving averages begin to diverge and expand. Moving forward, the lower 30k level has shown great support in buy volume which will limit the extensive sell pressure. The normalized ATR and %R momentum indicator have also shown the same reading. When this occurs it indicates that price is nearing a bottom since sell pressure is getting exhausted. What I expect is that BTC price will range in this 30k area for the coming days so a DCA strategy should be implemented!
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