alanmasters

Bitcoin Facing Resistance At $8146 or EMA200, Where To Next?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin ( BTCUSD ) is now facing resistance at EMA200 or $8146, this is the brown line on the chart.

In an earlier article, I explained how we use the Exponential Moving Average lines to determine what will happen next and so far this indicator has been of great help... This is a learning article, you can see it here:
Now, for the current chart for Bitcoin , we move back to the daily timeframe and here we can look at the EMAs as well.

  • EMA50 in yellow was easily conquered and then EMA100 in purple held as well... Now, EMA200 just rejected Bitcoin's growth and is the main barrier at this moment to break.
  • If BTCUSD manages to stay above this level, it can move higher. But if instead, prices remain below EMA200, BTCUSD is very likely to drop and move lower...

What's your take?
It is normal to have a retrace after a bullish wave.

Namaste.
💬T$ | https://t.me/AMTrades

🌐 Alan Masters Trades | Profit/Learn Trading Crypto
https://alanmasterstrades.com

🅰️ TOP Altcoins Signals| https://t.me/AMC1REGBOT

⭐️ Binance Calls | https://t.me/BCREGBOT

💎 BitMEX Trades | https://t.me/BBLREGBOT

Related Ideas

@Abtin00, Thanks for the chart.

Namaste.
Reply
resourceful idea
btc turn to be bearish only if this horizontal is broken
Reply
alanmasters David_Smith
@David_Smith, Thanks for sharing.
Reply
awesome chart)
+1 Reply
@Alex_Clay, Thanks for the chart.
Reply
Good work as always Alan. What do you think about this?

+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out