The Long Investor
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$BTC TOP 20
🕑 Added 2025-05-04 18:21:46 +0000 UTCThe chart above is the weekly chart but right now the price is still being held below the amber 0.618 Fib at $96.1k.
On the first attempt to flip this level to support the price action dropped below this level
All is not lost for the bulls because they can quite easily make another attempt at flipping this level to support if the market continues to move higher
The $SPY tested its own 50 WMA this week and met resistance too....so both assets here are at important resistance levels.
This is not a rejection, it is simply a failed test at an attempt to flip a support level....let the price action work and let the bulls and bears slug it out.
For now, we need to be observing if there is any rejection....a break below the 200 Day MA at $90K and holding below this level would signal a rejection for me.
