Not So Fast Bitcoin, What Happens Now? (2020 BTC Halving)

Bitcoin (BTCUSD) is showing some momentum today and prices are now above EMA10 and challenging EMA50... But, what happens next?

EMA50, now at $7167, is a very strong resistance level on the daily timeframe, it needs to be conquered for prices to go higher.

• Today's trading volume is still low but above-average, which is a start.
  
• The indicators, MACD and RSI, are both on the bullish zone and can easily support more upside.
  
• This move can lead to more just as it can turn into a "non-event" and prices continue to consolidate.
  

What to expect after the daily candle close?

Prices are now trading above EMA10, which is the green line on the chart ($6919). As long as prices are above this level we remain bullish.

If prices drop below this level, we expect the retrace to continue.

Do you agree with this analysis?

Where do you think Bitcoin is heading?

What about the 2020 Bitcoin Halving?

Share your charts and thoughts with us in the comment sections below.

Thanks a lot for reading.

Namaste.

Comment:

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