Good morning sirs!
Quick review regarding BTC because nothing has changed since few days. I still thinking that the blue line is the support we go. Its a strong one you it should bounce from there hugely and with a great spike on volume if not would be really bad news. A little bounce with no volume won't be something relevant from my analysis a huge one is needed:
Looking at bigger timefram in 1D if you remember from past days RSI was so overbought and pointing down all the time. Still pointing down but close to the bottom and already in oversold. What reinforces my theory about the blue line acting as great support for BTC.
MACD still heading south too but the position is opened to changes easily, so nothing to be worried. One good thing is that the volume downtrend ended. And we got higer spikes, but still not enough. So to sum up delicate situation of BTC right now.
And in my scenario the most damaged part here would be the altcoins because as we have seen already any heavy move of BTC will drag them down. And I think we are close to heavy BTC moves. In that blue support if bounce of if fails and goes down. So I would continue being extremely careful with alts for now setting SLs and reamining some liquidity on BTC to buy dips.
(When Im talking about the blue line its refered to the trend one, not the EMA50, which is acting as resistance short timeframe).
Let's go to the moon !
