BTCUSDT 23750 Weekly update August 08 2022 W#32
BTCUSDT bears are holding the resistance level at the 3D21ema
RSI on 3D also hits the resistance trendline (18 MONTHS trendline resistance)
1) If bears reject the price at the 3D 21ema, support will be at 17.5-16.2k, with 16.2k being the 0.5fib
However, the 3D macd is still pointing, which makes it hard for bears to retest the supprt at 17.5-16.2k
2) Therefore, the upper resistances will be the D100ema (currently at 26.2k) and the W21ema ( Curr. at 28.4)
Note:
Starting from the 3D21ema(24k) up to the W21e(28.4k) is bear range
Starting from 17.5-16.2k is bull range
BTCUSDT bears are holding the resistance level at the 3D21ema
RSI on 3D also hits the resistance trendline (18 MONTHS trendline resistance)
1) If bears reject the price at the 3D 21ema, support will be at 17.5-16.2k, with 16.2k being the 0.5fib
However, the 3D macd is still pointing, which makes it hard for bears to retest the supprt at 17.5-16.2k
2) Therefore, the upper resistances will be the D100ema (currently at 26.2k) and the W21ema ( Curr. at 28.4)
Note:
Starting from the 3D21ema(24k) up to the W21e(28.4k) is bear range
Starting from 17.5-16.2k is bull range
