$BTC TOP 20
Added 2024-09-01 17:53:57 +0000 UTCThe 200 Day MA has been the important level to flip to support and the bulls are having a very difficult time with it.
Breakout happened on Friday the 23rd and on the the retest, there was no attempt by the bulls to hold above this level, once the level was lost again it sold off.
The attempted impulse wave now since Wave E is looking very weak and a lower low is more likely next, especially a test to the 0.618 Fib at $54,600
Losing this level and Wave C is becoming a high probability
The price is below the 50 and 200 Day MA and has consistently been making lower highs and lower lows since March, the trend is to the downside now with this clear rejection at the 200 Day MA
