27/02/23 Weekly outlook
Last weeks high: $25305.1
Last weeks low: $24008
Midpoint: $22712.3
BTC Gradual decline away from the ~25k HTF swing high was to be expected for a lot of traders, last week that scenario played out with a consistent drawdown towards the lows of 22700.
Personally I'd like to see 22.5k be the local low of this move down with a strong reaction from the bulls in this area if BTC is to regain momentum. Failing that the daily 200EMA has been great support as of late, that sits around the 21800 area and needs to hold for the bulls.
Last weeks low: $24008
Midpoint: $22712.3
BTC Gradual decline away from the ~25k HTF swing high was to be expected for a lot of traders, last week that scenario played out with a consistent drawdown towards the lows of 22700.
Personally I'd like to see 22.5k be the local low of this move down with a strong reaction from the bulls in this area if BTC is to regain momentum. Failing that the daily 200EMA has been great support as of late, that sits around the 21800 area and needs to hold for the bulls.
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