jatech3

Be Cautious Trading BTC Right Now

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We had a nice bounce back over $6,000 but I would be cautious trading BTC right now. The last three times we hit the 20EMA resistance line we have bounced off. As of now, it looks like we might be bouncing off for the fourth time and going back down. However, if we break the 20EMA resistance line there looks to be no strong resistance till around $8000 near the 200EMA. Good luck everyone!
Comment:
Comment: 20EMA still a battleground for bitcoin. No successful two daily candlesticks over the line yet. A closer look at the 4hr shows the resistance level in red (200ema) holding us down
Comment: Looks like 7850 is the new resistance line for 1 day in red and that we might double top on the stoch rsi before heading back down

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