The Bulls Are Back

BYBIT:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD printed an impressive 4H candle, smashing through a ton of major moving averages (10 SMA - orange, 200 EMA - red, 21 EMA - yellow, 100 EMA - green, 50 EMA - blue). A quick long position seems like a reasonable play here. I entered at 9050, with a stop/loss under the 21 EMA at around 8950. Target is the massive resistance area around 9500. I put in a conservative take profit order around 9420. If all goes according to plan, the weekly will also close above it's 21 EMA at around 9000, and we could see more bullish action in the coming weeks.
Trade closed: stop reached: The bears win this one.


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