CipherR

BTC to cross 200 EMA on 1D for first time since 2015?

BITFINEX:BTCUSD   Bitcoin
Using a logarithmic scale, the upwards trend can be viewed as starting from the double bottom of 2015 which was also the last time the RSI dipped below 20. Plotting the fib retracements since then gives different levels to most used here on TradingView. $7700 levels would be a 61.8% retracement of which the price may bounce off. The 200 EMA may come into play in influencing resistance. The last cross over on the 1D was back at $255. Failing to bounce off this could indicate more downside to come.
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