alexg212

Bitcoin at important ema resistance zone

COINBASE:BTCUSD   Bitcoin
Bitcoin is still at key resistance zones. The bulls managed to get over the 12EMA daily. Next resistance is 26EMA daily. Bears have had it in control since the strong rejection at $9200. This large bull move from $3800 proves as merely a strong oversold bounce without significant trend change. If consolidation does not hold significant higher low on daily, downside into sub $4000 could be possible. This will also be somewhat dependent on stock futures and how the markets react this coming week. Stay safe, lock in profit along the way.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.