Bitcoin price is back below $55,000, unable to keep its bullish momentum it had leading into the Coinbase Global listing.
That’s exactly what happened that took Bitcoin from under $12,000 to more than $64,000 in a matter of months.
After several candle closes below the SMA, a fall to the lower Bollinger Band is the most likely next target.
Remember, the close below for Bitcoin is only on the three-day timeframe, suggesting that the more dominant bull trend is still hanging on.
Either that holds strong, or there’s a chance the bull market is over.
The middle-SMA in the monthly is right around $18,000 per coin and below the cryptocurrency’s former all-time high.
While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets.
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