Assessing the current BTC situation using EMAs

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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One of my favorite indicators to asses a market are the EMAs. In the chart above I´ve included the most common ones: 20, 50 and 200.

When looking at these indicators it is important to determine if they are acting as either support or resistance.

Currently the 200 seems to been the support, 20 resistance and 50 our long term Bull support lifeline.

Based solely on my observations I´ve used these indicators to determine if a market is either bearish or bullish .

In a Bull market you will see the following: Candles above the 20, 50 and 200.
In a Bear market you will see the following: Candles below the 20, 50 and 200.

You can use the same for 1 min to 3 day, but most experts and I prefer the 4hr chart.

Currently BTC is (in my opinion) in a no trade zone. The 50 is below the 200 (bear) and the 20 above the 200 (Bull) this is an odd scenario, but most likely caused by the recent 1K rally from last week.

However, things are looking good for the Bulls: The 200 is flattening out, and the 50 keeps rising which means that it could at this rate either surpass the 200 and cross over (Bull) and at the same time meet the 20 somewhere around $8,000 and after that have all 3 rise and finally start a nice bull run.

Bear Scenario: As all 3 lines converge at around $7800 a breakdown to the downside occurs.

From my personal notes and from an article which was posted in COINTELEGRAPH, Id like to share the following:

"A purchase close to the 50-day SMA offers a low-risk buying opportunity. Buy close to the 50-day SMA and keep a stop loss below it." This from my observation is true as long as the 50 is on a rising pattern and if you look closely at April 12 2018, this is exactly what happened and ended up in a good buy opportunity.

Hope you all find this useful and if you do, don't forget to like or comment on the section below.

Best Regards,
Comment: 20 is currently the support in the 4HR chart, 200 could be short term support and the 50 long term.
As expected, the no trade zone continues to converge between $7900-$8100. The 50 EMA keeps rising slightly while the 20 and 200 are flattening. A break to either side is now possible but by reading other experts comments a healthy correction to $7500 is expected.

My opinion with BTC is that if we are not going up, then we are surely going down.
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