Riding The Wave Weekly Outlook #14
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Table of Contents
Tweets
What’s Happening Now?
What Might Happen Next?
Tweets
What’s Happening Now?
Last week Bitcoin closed above the 8 week SMA & it is currently trying to break through the 20 week/50 week SMA. By closing above the 8 week SMA we have broken the downtrend we have seen for the past several months and now have an opportunity to form an uptrend.
On the daily time frame, we have reached the resistance area where we have previously been rejected 3 times ($45k).
Overall things are looking bullish with the downtrend breaking (resistance at the 8 week SMA), support on the red line holding, us testing the 20/50 week SMA, & us testing the area we have previously been rejected at $45k.
What Might Happen Next?
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