Bitcoin EMA update - Big day today ?This chart uses the EMA, Simple Moving Average
Red = 50, Blue = 100, Green = 128, Yellow = 200
Today, PA is once again up against the 50 EMA that has become resistance.
This is just below the important level that would allow us to make a higher high if PA breaks through.
A Higher High is made if we rise above 113452
We can see that the 100 SMA is also now on a local line of support.
So it is decision time for PA today.
To remain in an ever decreasing area, a squeeze, or Break out above the 50 ( 112967 ) or fall below the 100 ( 110831 ) and the local support.
As you can see, this is a very tight range
This is continued with the 128 SMA at
109134
A Lower low is made if we drop below 107165
Daily MACD still rising Bullish
This is only just and not really showing to many sighs of a "Surge". The Histogram is green but is we look bak, we can see a similar rise in Mid August that failed to continue.
However, It has room to move higher when ready, by a substantial margin.
The 4 Hour PA charts shows ua how the Bulls have been at work
PA continues to besandwiched between the 200 EMA and the 50.
If this pattern continues, we can expect to see PA rejected today by the 200 EMA and return to the 111200 area.
The 4 hour MACD
The Histogram shows us the hesitancy of PA. This is nit such a bad thing PA seems to be waiting, maybe for the FED on 17th.
I am not sure that PA can continue this long and I feel a reaction will be made prior to this date.
This may be a Dip lower, A LONG destroyer just before we see a move higher,, should the FED lower rates.
But trying to predict BTC Moves is foolhardy...............
Today will certainly give us an idea of future direction........
