200EMA does not give up
With this title we start the bitcoin analysis in a 4 hour chart
Looking at the overall upward trend of recent months, this shows very quickly how the 200 EMA has provided very important support.
What I also noticed, is the fact that the bitcoin ever came back to the 61fibu where the 200 EMA was nearby and bounced back and has formed a new high.
If this case were to recur again Bitcoin is likely to make a decision soon and possibly seek a new year's high.
If not, it could collapse significantly and form new lows. but hey what else interesting to mention. it comes to such a sale, the 61 he was in the 6000 area where the course has commuted for months and could find support there.
PS: if the sale was about as fast as the increase, we would reach around in October and 61er fibu rates guess there is also there .. W1 200 EMA
cheers
With this title we start the bitcoin analysis in a 4 hour chart
Looking at the overall upward trend of recent months, this shows very quickly how the 200 EMA has provided very important support.
What I also noticed, is the fact that the bitcoin ever came back to the 61fibu where the 200 EMA was nearby and bounced back and has formed a new high.
If this case were to recur again Bitcoin is likely to make a decision soon and possibly seek a new year's high.
If not, it could collapse significantly and form new lows. but hey what else interesting to mention. it comes to such a sale, the 61 he was in the 6000 area where the course has commuted for months and could find support there.
PS: if the sale was about as fast as the increase, we would reach around in October and 61er fibu rates guess there is also there .. W1 200 EMA
cheers