BTCUSD: Short term outlook. 4H MA50 turning into Resistance.

Bitcoin broke the aggressive 4H Channel Up (RSI = 43.859, MACD = -5.700, ADX = 20.956, Highs/Lows = -3.9533) that started on the January 3rd bottom (6,900) and turned sideways. For the first time since the bottom the price is trading that long below the 4H MA50, which may be turning into a short term Resistance.

With the 4H MA200 used as an accumulation area before the former Channel Up took off, it is possible to see buyers re-accumulating there again. The Symmetrical Support zone is at 7,940 - 7,690 and this is our point of interest if BTC gets eventually rejected by the current pressure of the MA50.






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