Hi Traders
BTCUSDT is currently fighting a fight around the 50 EMA on the daily chart. If EMA50 is not able to hold, then we will see further downside and most likely go below 50k. If it bounces back up we could be on our way to retest ATH. Also the Hitman indicator has given us a bear signal but usually when above 50EMA on the daily I use it only as a signal to caution / reduce position size and not already switch positions.
I am neutral at the moment but when trading below EMA50 I will exit my swing positions on BTC and wait and see whether there will be a rebuy opportunity below 50k.
BTCUSDT is currently fighting a fight around the 50 EMA on the daily chart. If EMA50 is not able to hold, then we will see further downside and most likely go below 50k. If it bounces back up we could be on our way to retest ATH. Also the Hitman indicator has given us a bear signal but usually when above 50EMA on the daily I use it only as a signal to caution / reduce position size and not already switch positions.
I am neutral at the moment but when trading below EMA50 I will exit my swing positions on BTC and wait and see whether there will be a rebuy opportunity below 50k.