BTC daily closing below 50d EMA: Going to $9k
If BTC -3.53% closes below the 50 day exponential moving average , we are going to 9k.
I base this off my close analysis of the previous two years of daily candles. A close below the 50d EMA during a correction has always led to a further drop in price, normally down to the 130d EMA . It has also been common to see the price wick past the price set by the 130d EMA .
Based on this, I believe we will see BTC -3.53% drop to 9.5k - 9k if the current daily candle closes below the 50d EMA . This area also lines up with the 0.236 fibonacci retracement .
I base this off my close analysis of the previous two years of daily candles. A close below the 50d EMA during a correction has always led to a further drop in price, normally down to the 130d EMA . It has also been common to see the price wick past the price set by the 130d EMA .
Based on this, I believe we will see BTC -3.53% drop to 9.5k - 9k if the current daily candle closes below the 50d EMA . This area also lines up with the 0.236 fibonacci retracement .
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