Bitcoin’ (XBT) continues consolidating sideways. We can see higher lows being created on the 4H TF. Let's look at price action.
- Our immediate resistance is sitting at $4000 and $4070. A break above this level take us to test $4350 which is the resistance that needs to be broken in order for Bitcoin’ (XBT) to move up.
- We are looking at EMA10 ($3940) as are immediate support, followed by $3900.
- If Bitcoin’ fails to move above EMA50 ($4070), then it will test our support again at $3800 and continue this dance (up and down) until one side gives way...
- The has now gone past 50 but still has some resistance to break.
- I will keep this thread updated as the charts develop.
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Alan Masters here...
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