Blockhead784

BTC - Stalled at 200 EMA / Trendline Support

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As mentioned in my last analysis, waiting to see what happens here at the 200 EMA support. It looks like we're not only stuck on the 200 EMA , but also right on top of the downward trend channel line.

Of course I can't predict the future but if price drops I have a horizontal support line (blue) drawn at 8000 that also coincides with a support line with touches from previous price action (dashed-blue line).

If it were to go to the upside, I would look for my 12 EMA blue to cross over the 36 EMA Red to the upside, and would need to break the 11800 price resistance as we could be range bound.

Cheers!

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