BTSE Token Pulls Back After August Rally Hits Record Highs
BTSE Token corrects from new highs amidst broader crypto market sell-off.
This week saw BTSE token "false break" its previous all-time high of $2.80, sometimes perceived by traders as short-term bearish price action. Those with a bullish bias might reject the notion that the prior intraday high of $2.80 has any significance at all.
Bears might be shorters on strength, with the 50-day exponential moving average and blue support zone still sitting some distance below current prices. It follows that stop-loss congestion may become a possibility above the recent new highs of $2.952.
Bulls will be closely watching the blue 14-day RSI support zone, particularly whether it can bounce around the 45 to 50 bull market support level.
Dip buyers might be choosing spikes down to the 50-day exponential moving average or the blue support zone as opportunistic entries, with stop losses likely to be stacked slightly below these key support levels.
That's all from me today.
Wishing you all a pleasant end to your week.
You can find me on twitter at @savdoescrypto.
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