$BTC Chart Update: Look at the

$BTC Chart Update:

Look at the 50wma (weekly moving average) in Bitcoin. Has been mostly a bouncing point in the last 9 years. The few times it couldn't bounce off it, led to some really nasty drawdowns, in -66%, -55%, and -66% highlighted in red.

Right now Bitcoin is notably under the 50wma. It will need to recapture it asap. Otherwise history says more downside just based on this indicator.

With that said, weekly RSI near the lowest since Jan 2023!

Has not gone 4 straight red weeks since July 2024!

Bulls need to invalidate this 50wma indication and get back to at least $100k first and $103k soon after.

Bonus PS: That MOAT is very much in play as well, interesting.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":513316007752176,"tweetId":"513316007752176","gmtCreate":1766348931633,"gmtModify":1766366891328,"author":{"id":3563842318594455,"idStr":"3563842318594455","authorId":3563842318594455,"authorIdStr":"3563842318594455","name":"Pinkspider","avatar":"https://community-static.tradeup.com/news/2643891549304031c32c05b207f0f2b6","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.10.19","exceedPercentage":"93.61%","individualDisplayEnabled":0},"individualDisplayBadges":[],"fanSize":889,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","html":"<html><head></head><body>$BTC Chart Update:\nLook at the 50wma (weekly moving average) in Bitcoin. Has been mostly a bouncing point in the last 9 years. The few times it couldn't bounce off it, led to some really nasty drawdowns, in -66%, -55%, and -66% highlighted in red.\nRight now Bitcoin is notably under the 50wma. It will need to recapture it asap. Otherwise history says more downside just based on this indicator.\nWith that said, weekly RSI near the lowest since Jan 2023!\nHas not gone 4 straight red weeks since July 2024!\nBulls need to invalidate this 50wma indication and get back to at least $100k first and $103k soon after.\nBonus PS: That MOAT is very much in play as well, interesting.</body></html>","htmlText":"<html><head></head><body>$BTC Chart Update:\nLook at the 50wma (weekly moving average) in Bitcoin. Has been mostly a bouncing point in the last 9 years. The few times it couldn't bounce off it, led to some really nasty drawdowns, in -66%, -55%, and -66% highlighted in red.\nRight now Bitcoin is notably under the 50wma. It will need to recapture it asap. Otherwise history says more downside just based on this indicator.\nWith that said, weekly RSI near the lowest since Jan 2023!\nHas not gone 4 straight red weeks since July 2024!\nBulls need to invalidate this 50wma indication and get back to at least $100k first and $103k soon after.\nBonus PS: That MOAT is very much in play as well, interesting.</body></html>","text":"$BTC Chart Update: Look at the 50wma (weekly moving average) in Bitcoin. Has been mostly a bouncing point in the last 9 years. The few times it couldn't bounce off it, led to some really nasty drawdowns, in -66%, -55%, and -66% highlighted in red. Right now Bitcoin is notably under the 50wma. It will need to recapture it asap. Otherwise history says more downside just based on this indicator. With that said, weekly RSI near the lowest since Jan 2023! Has not gone 4 straight red weeks since July 2024! Bulls need to invalidate this 50wma indication and get back to at least $100k first and $103k soon after. Bonus PS: That MOAT is very much in play as well, interesting.","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/513316007752176","repostId":0,"isVote":1,"tweetType":1,"viewCount":190,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["BTC.USD.CC","BTC.USD.HKCC"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":553,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/513316007752176"}