Re: FALLING FALLING!

Have you seen a double top on the weekly chart? what price will we go down to?Have you been hedging for a long time?

Considering other factors as well as the 200-day EMA, I think there is no going further down for now. The price touched the 200 EMA and is show signs of bouncing off it just like the previous bounce in June and also respecting the trendline.

We are probably looking at a consolidation phase

I appreciate your TA but your POI's are very far from the current price in the market. I think it's better to plot only the POI you think the price will go to. I'm not using EMA in my trade now but it can also be used as dynamic support and resistance which is confluence with SNR. Additionally, the trend in the weekly timeframe is clearly bullish so what we see in the market is just a retracement. We just have to wait until market get enough liquidity to fuel the price higher and create another high. Possibly the price will hit $35k to $37k base on my analysis.

UPDATE:

So the Bitcoin price decided to obey the 200 EMA as a support level and bounced off perfectly invaliding OP's FUD. I think we might see some retracement towards the $40K zone.

The POIs are just for reference at a later date depending on market movement and given the higher time frame, they are also further apart unlike those for shorter time frames. I mean, look when we last discussed this. Almost 3 months ago