Bitcoin (BTCUSD) is facing resistance at EMA50 once more and this time prices are moving above this level.
As we mentioned in our most recent article, EMA50 ($7164) is a strong resistance on the daily timeframe, moving above it can easily send Bitcoin's prices going higher:
Not So Fast Bitcoin, What Happens Now? (2020 BTC Halving)
This is an easy setup here, we are looking for a daily close above EMA50 and we can see prices going higher, easily hitting $7600 or $8000+ next.
Conditions for change If momentum is lost and prices drop below EMA50, the above signals become invalid.
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I'm long. even if it drops, not seeing enough selling pressure building. It wouldn't surprise me to see a crazy rip up 8000-9000 then fall back to test 5200. I will sell the pump. This is my plan. Manipulation will happen due to lack of volume