BTC Updates:-
Keeping BTC CME futures gap-filling theory aside.
Some technical reasons which we observed that may lead to a downfall in #BTC to the zone of $47k are :-
1.Rising wedge formation, in which downside breakout has already occurred and technically next support lvls are $50k - $49k - $47k
2. Next strong support zone 100days EMA around $48k.
3. RSI and price action divergence which leads to breakdown in prices.
4. Weekly MACD bearish indication.
5. Monthly Fibonacci retracement of 0.5 matches to $47k zone.
Keeping BTC CME futures gap-filling theory aside.
Some technical reasons which we observed that may lead to a downfall in #BTC to the zone of $47k are :-
1.Rising wedge formation, in which downside breakout has already occurred and technically next support lvls are $50k - $49k - $47k
2. Next strong support zone 100days EMA around $48k.
3. RSI and price action divergence which leads to breakdown in prices.
4. Weekly MACD bearish indication.
5. Monthly Fibonacci retracement of 0.5 matches to $47k zone.