AlanSantana

Where To Next BTC? | MA200 Conquered, Volume Starting To Show UP

Long
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
We have been tracking Bitcoin ( XBTUSD ) closely basically on all timeframes and considering multiple scenarios... Here we are looking at it again short-term, 4H (4 hours) per candle.

We put our focus on MA200 (black line) because it is a strong indicator for Bitcoin on this time frame. You can see all of the details about it here:
  • Now, this level has been conquered and even though we still have low volume , it is starting to grow.
  • We can easily notice that Bitcoin is trading above EMA10 ( bullish ) as well as MA200. The MACD is also bullish .

The bulls have the upper hand as long as we remain trading above these levels. If XBTUSD moves below these two, then we switch our short-term view from bullish to bearish ... Right now we stay with the bulls.

Namaste.
Comment: With low volume, a strong move can happen to either side quickly out of nowhere... Please keep this in mind.

Any signals coming out from the charts at very low volume, the way it is now, have less value and can be a trap.

Caution.

Thanks a lot for your support.
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