thiefofsats on Nostr: It's Monday so here's today's outlook. Bitcoin has been hoovering the 50 RSI (bottom) ...
It's Monday so here's today's outlook.
Bitcoin has been hoovering the 50 RSI (bottom) for the entire weekend. We did get the dip to 66.5k range (see last update) but bounced and therefore we didn't revisit the 64k range. Atm we're facing a crossover of the 7- and 25-day moving average while the sideways move over the weekend has pulled the 100-day MAup to the 66.5k support range.
Scenario 1: The 7/25 MA crossover succeeds and Bitcoin will aim to retest the 1 FIB / new ATH at 73k. Breaking that level AND finding support above 73k would open the road to the 88k range.
Scenario 2: The crossover fails, we revisit 66.5k range for support and, if support gets confirmed we'll then test the recent ATH for resistance.
Whichever comes first. Stack sats while we're still within the established channels.
#Bitcoin
Published at
2024-05-27 15:31:26Event JSON
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"pubkey": "e878c0928d466aaa0ef002af9692ff44176da81e7b991d53c21ced8231e5bfa4",
"created_at": 1716816686,
"kind": 1,
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"content": "It's Monday so here's today's outlook.\nBitcoin has been hoovering the 50 RSI (bottom) for the entire weekend. We did get the dip to 66.5k range (see last update) but bounced and therefore we didn't revisit the 64k range. Atm we're facing a crossover of the 7- and 25-day moving average while the sideways move over the weekend has pulled the 100-day MAup to the 66.5k support range.\n\nScenario 1: The 7/25 MA crossover succeeds and Bitcoin will aim to retest the 1 FIB / new ATH at 73k. Breaking that level AND finding support above 73k would open the road to the 88k range.\n\nScenario 2: The crossover fails, we revisit 66.5k range for support and, if support gets confirmed we'll then test the recent ATH for resistance.\n\nWhichever comes first. Stack sats while we're still within the established channels.\n https://image.nostr.build/a1eaa1cb541aa2cd7e8dabb1fe3bd1bb7664c8823e6871bd1e9f0efdd76837ac.png\n#Bitcoin",
"sig": "fa61d308cb0ac6bbe2b481bbb001df60c53b618fa2db5bf2c4978ea14e47d41710259e342d537039b41aa019452650891da026a2cfdf193189a59654aa8b2adf"
}
