Although charts are full of bearish divergence during the last price action above 32k, bulls are doing their best to reclaim the 50 EMA as support. I made a mistake thinking they will easily give up this area to the 100 EMA weekly support (around 24k), obviously NOT !
if they are able to flip the Weekly 50 EMA into support, I still think we will still see a drop in price due the bearish divergence after the weekend, but we will return back to same area by next week closing.
If they fail we can possibly head towards the 24k, 27k or 29k before going back to retest the weekly 50 EMA as resistance next weekend.
I will not enter any trades this weekend until we have a clear direction.
Good Luck & stay safe
if they are able to flip the Weekly 50 EMA into support, I still think we will still see a drop in price due the bearish divergence after the weekend, but we will return back to same area by next week closing.
If they fail we can possibly head towards the 24k, 27k or 29k before going back to retest the weekly 50 EMA as resistance next weekend.
I will not enter any trades this weekend until we have a clear direction.
Good Luck & stay safe