Bitcoin (BTCUSD) is showing a low volume bounce while trying to break slowly above EMA10.
We are seeing multiple signals that are pointing to move up but multiple resistance levels are to be taken out first.
The blue trendline is the main resistance that needs to be broken for Bitcoin (BTCUSD) to move higher. If this level breaks, we aim at EMA50 ($10278) followed by $10800-$10900.
Bitcoin's price is already moving above EMA10. (Bullish)
Moved below EMA100 (light blue rectangle) only to bounce back up. If Bitcoin can remain above EMA10, it becomes very likely that it moves higher...
Hidden bullish divergence can be spotted on the RSI. (Bullish)
Low volume. (Bearish)
The set up is already in play, the only thing needed now is for the bulls to follow up and we can see Bitcoin grow to $10,250 or higher all the way to $10,900... It all depends on the daily candle close.
Where do you think Bitcoin is headed?
Share with us in the comments section below!
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Bitcoin moves higher... Here are the immediate resistance and support levels:
Support: $10,300 - $10,000 and $9,800.
Resistance: $10,500 - $10,800 and $11,150-$11,350.
I'm seeing it as short term bullish at the very least...
Short term and 2019 yr trend is bullish
20 crossed 200 ema to upside on 4h charth and 50ema catching up to cross to upside also
Short term and 2019 yr trend is bullish
20 crossed 200 ema to upside on 4h charth and 50ema catching up to cross to upside also