mycotoxin

BTC - 2 Week MA13/30 Bullish cross in 3 days The MA13/30 cross on the 2 week chart can provide insight on future price movement. As seen on the chart when the MA13 ( the white line) crosses above the MA30 (blue line) Price tends to move upwards. This has been the past behavior observed at points A , B and C marked on the chart. As seen at point 'D ' the MA13 is going to cross above the MA30 in 3 days and I'd expect a repeat of the past behavior where BTC moves upwards to around the 34k area. As these are 2 week candlers , it may take a few days after the MA13/30 crossover to see this play out . On the flip side what happens if instead BTC falls below the bullish MA13/30 crossover at 24700 ? ============================================== In this case Id expect a rebound upwards at around this 24700 area which will also be a bounce at the .50 Fib . This is also the second scenario suggested on the chart below . My thought as long as BTC remains above the local .618 fib which is at around 23400 then upwards movement should continue.

BTC - First Possible bounce location is the .382 Fib at 26065 First Possible bounce location is the .382 Fib at 26065. From the chart the 150 Moving Average ( the red line ) is also at this area hence and could offer some support . If the .382 Fib fails to produce a bounce then the next possible bounce area will be the .5 fib at around 24700. As long as BTC remains above the .618 fib at 23400 the trend is still bullish .

BTC - Possible .5 Fib retracement to 24700 before moving higher Possible BTC retracement to the .5 Fib area at 24700 before moving higher.

BTC - Can push down to test 25k support before moving higher There could be a test of the 34k area; However BTC may first move down and test the support at 25600 before pushing upwards.

BTC - Right Angled Broadening wedge with 34k targetRight Angled Broadening wedge with 34k target . Alternatively BTC can also move down to test the top of the wedge at around 25k before pushing up.

BTC - Could move lower to retest support at 25200 before pushing higher

The CME chart on the right shows the possible BTC targets could be the CME gapfills at 29400 and also 35000

The current rejection and move back below the top of the trading range at 25k is not a good sign BTC has not even once been able to close a daily candle above the top of the trading range and keeps getting rejected. There are 3 possible options on what can occur next. 1) BTC bounces at the MA20/MA50 which is the area between 23500 and 22600 and then breaks above 25k once more 2) BTC fails to bounce at the MA20/MA50 and instead moves lower to the next support at 18k 3) BTC fails to bounce at the 18K support area and drops lower to 12k

Strong move upwards to break out of the top of the trading range . Id expect a retest of the top of the range down to the 23500 area followed by a move back upwards to 33k . This move upwards could be to fill the CME Gap at 33k as the last moved down to 19k filled the CME gap at that area

If a market bounce is to take place, then it has to occur within the range of 18722 to 17000. this is a good support bounce area and also the last line of defense. However should BTC drop below the 16800 area then likely this will signify an irreversible downturn with the next target being the 12K area.