Bitcoin successfully held the long term downtrend line earlier this week. An EMA Death Cross is approaching, similar to early January. If the 50 day EMA breaks through the 200 day EMA expect additional significant downside movement. Possibly a drop to the $5k support line before finally bottoming. This is of course barring any significant positive changes in fundamentals. We will see if new buyers from the Robinhood Crypto rollout can save BTC from this last leg down - keep in mind it's only a handful of States right now, not a full nationwide rollout.
Note: With BTC anything is possible, this is just a thought on a possible path for the near future. This is not investment advice in any way.
Note: With BTC anything is possible, this is just a thought on a possible path for the near future. This is not investment advice in any way.