Post
Topic
Board Speculation
Re: Correction from $30K: Reason to worry?
by
dragonvslinux
on 21/04/2023, 12:48:19 UTC
Personally I think $28K level is likely to act as strong support, due to the 3 weeks of consolidation/accumulation that occurred recently.

Price has now reached around $28K previous accumulation zone. Only time will tell if this acts as support or not, but the selling has slowed down for now:



Failing that there isn't a lot of trading around $25K, despite it being previous resistance, so the next support would be around $23K it seems (previous accumulation zone).

This is also where the bullish trending 20 Week MA is priced, which has just crossed the 50 WMA in bullish formation.