Vital time for BTC on 6h

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Almost decision time for BTC .

  • Similar to last rebound, candle closed above 50 EMA then was quickly rejected.
  • Also similar to last rebound, we have descending volume continuing throughout.
  • Price holding at 850 EMA currently.
  • 850 EMA helped slide into the cloud.

Still have the opinion we may have 1 more dump towards the 5k area within the next few days. We should know relatively soon. Expect to retest the descending black resistance line which started at 17k before final decision.

After that, still long term bullish regardless
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