Bitcoin - Daily Trend Dominated by 20DMA-To The Moon - Tiger Brokers Online Investing Community

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Bitcoin - Daily Trend Dominated by 20DMA

Published in the previous Weekend Newsletter:

"Price declined to 20 Weekly Average as anticipated last week, then it bounced rapidly, it has to stay at the current zone to avoid...

The bearish oscillators in the monthly and weekly charts SUGGEST CAUTION despite the recent weekly dragonfly candle... some big declines show long hammers or dragonflies that are followed by further downside."

The daily chart shows rejection at the 20 Daily moving Average during the last two weeks, and right now price has to recover the 5DMA as soon as possible, or a lower low would be likely.

Image

https://twitter.com/SmartReversals/status/1789354170576691228

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vi123123
·05-13
Price needs to recover the 5DMA to avoid a lower low.
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