21 May My Technical Analysis
$BTC price continues its narrow band movement. Below and primarily 28.8/28.5 is still more interesting. Selling pressure continues below 30.600 but if we can push it above here then we will look at around 32.8.
We have been making narrow band movements for 6 days, and the expectation of a strong movement continues at the end of this compression.
Let's try to understand the macro by looking at the direction of the 200-day moving average here about $ETH.
Examine for yourself how the pressure on the price increased when the 200MA (red average) got rid of its horizontal trend in 2018 and turned its direction down.
In addition, the region I circled may be similar to the price movement to be experienced, so it would not be wrong to expect some saw movement.
Of course, in this case, I do not think that BTC lost 28.8 immediately, if this loss occurs, then the downward momentum will continue without stopping.
$AVAX 39-23 will be subject to band movement. Maybe for a long time.
If it rises to 40s again, it can give a short opportunity up to 23s once more.
I think we will see $THETA continue to decline towards the 0.74-0.61 range in the coming weeks.
The upward movements that may come towards 1.91 can be considered as a selling opportunity.
If $SOL comes in below 47 weekly close, there is a high probability of further decline towards the 26-19 price zone.
The $FTM 0.23-0.15 range looks like it will be tested again.
It is a bit risky to open a long trade to 0.23 reaction, but the descents towards 0.15 and the reaction candles that will occur here should be watched carefully. In case of reaction around 0.15 min. Long can be tried up to 0.23 and above.
Afterwards, they will gradually decrease up to 0.039 and 0.0149 over a period of 1-4 months.
$MATIC 0.38-0.346 is important after the region with priority, 0.23-0.21 is important.
Continuation of the decline towards 0.38-0.346 is among the high possibilities for me.
Take it easy,
It is not investment advice.
Graph Source: Tradingview