Recently BTC reaches the 48k range however it seems like it has insufficient strength to move above it as 48k is a strong S/R area. And in the Weekly chart, It seems finally Moving average 20 is now supporting BTC, does it indicate a bullish momentum is on its way?
The weekly chart, extracted 19 Aug 2021 (UTC +8)
In the daily chart, you can see the price in between 44k to 48k (past 7,8 days). It seems like if buyers are able to push 46k, then it is likely to retest 48k again.
The daily chart, extracted 19 Aug 2021 (UTC +8)
In the 4-hour chart, it does show the strength of the buyers in the 44k area. And right now, everyone (both buyers & sellers) seems to be exhausted.
The 4-hour chart, extracted 19 Aug 2021 (UTC +8)
So based on the current conditions, will you be buying or selling? Or you will wait? Share your view with me :)
** Disclaimer: This is not intended to be investment advice. Seek a duly licensed professional for investment advice **
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