Chris from MM Crypto is talking about the Bitcoin weekly close candle. Bitcoin closed below the weekly EMA ribbon however that doesn’t have to mean anything (just yet). The problem is that this week Bitcoin closed for the third time below the weekly ribbon and that is not a good sign.
Chris: “Next to the closing below EMA we’re in a falling wedge pattern on the daily … it’s important that we’re not closing below this pattern. ‘Decision time’ is coming the latest at the 25th or 26th and we will soon know if we’re going into a bear or a bull market, which will mean twords $30k or $69k.”
This episode aired January 17, 2022