Hello guys, the price of Bitcoin (BTC/USD) is currently moving above the EMA 20, which indicates a possible uptrend. Please be aware of a possible Fakeout scenario, which we have seen multiple times in the past (yellow boxes). As long as we don't see a higher high (above $7.450) our trading direction is short.
I'm expecting the price to make another move towards our next support, located at the $5.200 level from where the price could bounce in anticipation for the Halving event. I don't see any reason to be bullish after this event.
Luckily I found you .. They are massacring me because I'm the only one who says it. Today they are all saying "bitcoin to the moon" without considering everything else.
quantumfly
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I concur. Expecting BTC price to plummet before the end of June, maybe sooner
MikeZillo
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Yes, I am considering a short position too. Have a look at my idea.
A feeback would be much appreciated
UnknownUnicorn3707027
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Nice chart! How is your short position justified with this chart? Here, the EMA should support the price and RSI has not reached the oversold zone. I am interested in how you interpret it.
ARESABI
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@AdrienRe, thank you! The price is in a no-trade zone. We wait for either a drop below the EMA 20 or a higher high (7.6k) to confirm the direction we trade in.
UnknownUnicorn3707027
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@monetae_CB, Ah, thanks! Yeah, I agree with waiting for a break out to the upside or downside. It might accumulate for a longer period.