Coin Savvy here with a quick short term analysis. There’s something I want to talk about and it’s the 377 ema.
Before I hop in, I discussed in my last post (
)
about how if bitcoin crosses the monthly candle above the 21 monthly ema (bullish on a very high time frame) then I could easily see price action get up to around $6,000 or $7,000, it’ll take some time. Now it’ll obviously have to break $5450 and $5600 before that happens so taking it day by day here.
The daily candle closed tonight above the 377 ema and this has been providing resistance for the past month so far.
Bottom indicator:
RSI is in the neutral zone trying to test that 21 ema. There’s a little bullish divergence with a higher low on price action but a lower high on the RSI and allowing the indicator to reset a little while maintaining supports.
Top indicator:
Stochs having a fresh cross up and pointing up
Daily chart looks like it wants to come up and test like $5450-$5600
That’s all folks, I’ll be writing about the 2 day and 3 day charts once closing time comes and discuss where price action can end up next.
Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis .
Before I hop in, I discussed in my last post (
about how if bitcoin crosses the monthly candle above the 21 monthly ema (bullish on a very high time frame) then I could easily see price action get up to around $6,000 or $7,000, it’ll take some time. Now it’ll obviously have to break $5450 and $5600 before that happens so taking it day by day here.
The daily candle closed tonight above the 377 ema and this has been providing resistance for the past month so far.
Bottom indicator:
RSI is in the neutral zone trying to test that 21 ema. There’s a little bullish divergence with a higher low on price action but a lower high on the RSI and allowing the indicator to reset a little while maintaining supports.
Top indicator:
Stochs having a fresh cross up and pointing up
Daily chart looks like it wants to come up and test like $5450-$5600
That’s all folks, I’ll be writing about the 2 day and 3 day charts once closing time comes and discuss where price action can end up next.
Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis .