BTC Flash crash really took everyone by surprise here. We are now approaching a strong support zone and daily 200MA, I would like to see a bounce here.
Although we wicked down as far as 42k, buyers quickly pushed the price back above this support closing the daily candle yesterday at 49K.
There is potential for us to find a new support trendline just below the 200MA
If we lose these levels and potentially put in a lower low on the daily I will have to reassess my bullish idea for BTC .
Long term I am still bullish , Short term we need more data.
Although we wicked down as far as 42k, buyers quickly pushed the price back above this support closing the daily candle yesterday at 49K.
There is potential for us to find a new support trendline just below the 200MA
If we lose these levels and potentially put in a lower low on the daily I will have to reassess my bullish idea for BTC .
Long term I am still bullish , Short term we need more data.