Bitcoin Attempts To Print A Short-Term Bottom (BTC)

BTC appears to be holding the Aug 22nd, 2017 low. The MACD is also trying to turn bullish, here on the daily chart. If price continues to hold the 8/22/17 low, we could see a relief rally with the potential of sending BTC up near $5,000. For that to happen, price obviously needs to hold this potential short-term bottom. Additionally, the extremely resistive 50 EMA (in orange) is rapidly falling toward price. The 50 EMA is likely to continue providing resistance, stifling any significant rally attempts. A failure at the 50 EMA would be a great sell signal. A confirmation above the 50 would be a game changer.

I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-

Comment:

BTC is running into resistance now, at the 200 EMA on the one hour timeframe.