BITCOIN LONG TERM PRICE TARGETS!

Hi,
Bitcoin is around 40k for the last couple of days trying to break up the red line, which is 50 week EMA.

If we cant hold it, its possible for price to test 200 week EMA which is the green line.

Historically, when price cant hold around 50 week EMA, tested the 200 week.

In the corona virus period price even tested 300 week EMA which is the yellow line.

Since this is a weekly chart it could take months before we test the 200 week EMA.

Probably we are not going lower than 30-35k zone since there are huge instutional investors bought in from that zone.

But we should always be careful. If price touch the 200 week EMA, i do think this is a pretty good buy zone.

Take care and have a good luck.