Riding The Wave Weekly Outlook #19
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Table of Contents
Tweets
What’s Happening Now?
What Might Happen Next?
Tweets
What’s Happening Now?
With traditional markets continuing to trend downwards Bitcoin has followed. It is now far (approx $5k) below the core SMA’s.
On the daily time frame, Bitcoin has been rejected off of the bottom of the red box (support/resistance area) which sent it down into a significant drop. We no longer appear to be following the red trend line Bitcoins price established before and appear to instead be trending downwards sharply following the blue line.
If you will look below you can see the white line which is trending upwards, many investors view this lower band as being due to investors continually averaging in slowly raising the price even without an influx of new investors in the crypto space.
What Might Happen Next?
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