Bitcoin (BTC): We Are Back Below 200EMA (Another Dump Incoming)?

Aug 12We are back with Bitcoin, where we had a nice rally to upper zones, which we mentioned earlier a week before.

As of now, price has made the bullish movement and seems it formed a local top here near 200EMA, where we had a small fakeout movement (which can be considered as a successful re-test).

We are now looking for the EMA to hold strong and price to move back to lows of 50K.

Swallow Team

Aug 13

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Bitcoin is still trading below the major EMA in the daily timeframe.

We are now monitoring and keeping an eye on that EMA, while also expecting to see further movement to lower zones here.

Historically, when we had Fakeouts near Daily EMAs (100 or 200) we had a nice further movement in opposite direction.

Aug 14

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Another day full of manipulations near 200 EMA.

As of now, we are seeing that 200EMA has lost control of either holding or pushing the price, which is not good at all. A possible sharp liquidity hunt might be coming from here so keep your eyes open.

Our play is still the same as long as we are below 100 EMA, so now we keep an eye on the zone between 100 and 200 EMAs.

Aug 15

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Bitcoin is back below 200 EMA, not giving away the zone of EMA there to buyers.

We have seen multiple rejections happen from that zone and now we are looking for further movement to lower zones to happen in the next few days.

Ideally, we should secure the EMA on a weekly timeframe as well so keep an eye on the end of the week!

Aug 16

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Bitcoin is again back below 200EMA and now the picture is a little bit clearer.

Although we were (and still are) looking for a lower target zone to be reached, we were not so sure about the play around 200 EMA.

As of now, we are seeing that we had a nice fakeout movement near that zone where as of today, sellers are also back in that zone and the price is now fully back below 200 EMA.