BitcoinShort
BTCUSD - Retest of 200D MA
Updated
I believe we're about to see BTC dip down to the low 8k region by the end of May to retest the important confluence of 200D and 100D MAs.
This dump should reset some oscillators and hopefully be a strong test of liquidity.
I can see a wick to the 7.5k zone as well if the dump is more violent.
The 50/200D MAs just had a golden cross, and recently these have resulted in a dump so I'd expect the same thing this time.
If we're lucky, this will be the end of the correction and then we can finally break 10k, but we'll see what happens later.
This dump should reset some oscillators and hopefully be a strong test of liquidity.
I can see a wick to the 7.5k zone as well if the dump is more violent.
The 50/200D MAs just had a golden cross, and recently these have resulted in a dump so I'd expect the same thing this time.
If we're lucky, this will be the end of the correction and then we can finally break 10k, but we'll see what happens later.
Note
We also broke down from this ascending triangle looking thing so a target of around 8.2k should be achieved pretty soon. Let's see.
Note
Idea invalidated. We didn't make it all the way down to 8k to test the 200d MA. This means the market is more bullish than I thought.
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