#BTC
What would confirm additional downside for Bitcoin?
Historically, a Weekly Close below the 200-week EMA (black) followed by a post-breakdown retest of the EMA into new resistance (red circles) has triggered additional Bearish Acceleration
The 200-week EMA (black) represents the price point of ~$68300
Therefore a Weekly Close below ~$68300 followed by a bearish retest of it would likely position Bitcoin for a repeat of history with additional downside over time
$BTC #Crypto #Bitcoin

Rekt Capital
@rektcapital
#BTC
On breakdown from the Macro Triangle, Bitcoin tends to experience its first bout of Bearish Acceleration
Then, a bout of temporary relief takes place before continuing the second part of Bearish Acceleration afterwards
$BTC #Crypto #Bitcoin x.com/rektcapital/st…


Weekly closes are the grown-up signals - the retest is where the story gets written. 👆
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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