In the past six months, we saw how EMA50 worked as a very strong resistance for Bitcoin , and it was broken for the first time on the 18 February with good strength and , after trading above it, now it needs to be tested as support.
If this level holds ($3800-$3820), which is now also marked by MA99, you can expect Bitcoin to continue its climb up.
On the way up after breaking $3940 the next resistance would be $4161 which is EMA100 (blue line).
If instead selling continues and Bitcoin breaks below EMA50 sitting at $3800-3820, you can expect a drop to $3661, this level is very likely to hold in the case Bitcoin decides to move lower.
Both the and remain strong and Bitcoin has been breaking out on the weekends, so it is normal to see a red Monday, we wait patiently to see how it all develops.
The bias short term remains.
Remember to hit like to show your support.
Thanks for reading.
Cryptocurrency Total Market Cap Breakout + Bullish Potential
Bitcoin (XBTUSD) Upcoming BitMEX Trade (Hit LIKE to receive it)...
Thanks for sharing.