Welcome to this update on BTC . As I told you; an important first step for BTC to turn on the longer term, is a weekly close above that blue . That's what happened.
But we have two signals that Occurred. On the Daily, BTC got rejected by the 50 , and Stochastik also give us overbought signals.
Therefore I'm expecting a retest of the blue which is correlating with the 20EMA as additional support.
The other signal is the Cycle that BTC is in. After a high in a Cycle, BTC turns to end it's Cycle. And since we are officially still in a bear market, the Cycle didn't change so far.
scenario: Restest of the blue and 20 . Bounce from there.
scenario: Retest of the blue and 20 . Bounce, followed by more selling pressure.Break through. Restest of the green , which showed strong support since the past 3 Weeks. Ending the Cycle.