Wow, what a week.
It is not over yet (as Bitcoin trades 24/7), however, the cryptocurrency has already made a noteworthy move.
BTCUSD started the week launching from and below the 202-week EMA body support line (which broke at the end of the prior week), and it already approaches the wick support line, represented by the 276-week SMA.
Here is the chart as of this writing:
The weekly candle is set to close on midnight UTC, between Sunday and Monday. That’s in about 30 hours from now.
It will be interesting to see if Bitcoin is going to break its wick support line, currently at $17,915.70 or bounce off it, marking the trough.
Stay tuned.