Bitcoin (BTCUSD) was rejected at EMA50 just recently but today prices are moving back above EMA10.
If EMA10 can be conquered today, prices closing daily above this level, Bitcoin will easily move higher and challenged EMA300/MA200 at ~$8000. The early signals are starting to take form.
Let's take a look at the 4H timeframe below:
Here we can see prices for BTCUSD moving below EMA100/200 just to quickly move back up.
We have increasing volume.
We can also see a strong bullish cross on the MACD and also a bullish/strong RSI.
Conditions for change If prices drop and close below EMA100 at $6860, the above early signals become invalidated. (Meaning that prices are likely to continue dropping)
We are long since $5900-$6300. If this movement continues to develop, we prepare to hit our next target.
Where do you think Bitcoin is headed?
Share with us in the comments section below!
Namaste.
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