The lateralization in Bitcoin continues after the reversal movement took place on the 100-day average, which was heralded weeks ago. In the short term, the trend is once again sideways with limited range for the moment, with the 20-day MA (orange) and the 100-day MA (green).
Source: Tradingview 1D
Today, it is important for the price quote to stay above the MA 100 days, and in case of visualizing a bullish perspective in the short term, overcome the resistance of the MA 20 days and the MA 50 days (blue).
In the weekly, you can see an interesting drawing that could be marking a possible bullish rebound in the price; however, the closing of this candle on the weekly chart will be decisive, and of course, in the period of one day, the price is above the MA 20 and 100 days as we mentioned.
Source: Tradingview 1W
While, from another perspective, the picture looks bearish on the monthly chart due to the size of the current candle, this therefore makes it important to watch the close of this candle on the monthly chart as well. It should be noted that the 50-month MA ($25,000) still represents a high liquidity zone where the price could be attracted to before a rise. On the other hand, the amplitude of the 20-month MA (orange) with the 50-month MA decreases, placing the former at around USD 31,000, when it was previously at USD 33,000. In the medium term, a further decrease in this will cut the price’s path to exceed the 20-month MA for the first time since April of last year and would configure a bullish scenario from the monthly chart if the market so decides.
Source: Tradingview 1M
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