Look for a drop down towards the 50 EMA before this thing really pops the lid. The climb will be gradual but I expect the momentum to outlast any push the bears attempt to put up. Traders at all levels are trying to get in on the Bitcoin wave that's already under way. Don't get caught sleeping...or slipping. This is not the winter to be a bear for BTCUSD. Go hibernate; its much cheaper.
the hold of this position, at its very location brings the 200 MA and 50 MA closer together. while the 200 MA drops closer towards the current price, the 50 MA comes upwards to it. the proper push upwards and we'll have a golden cross formed on 4H.
bumlik25
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Damn, you guessed it perfectly, wish i read that in time :/
UnknownUnicorn5320750
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@bumlik25, It was due for a drop after that big jump. once, it stretched up to the previous resistance level at $7684 it had no choice but to fall. i think the next big battle comes up at 9k though.