BTC - Support found in EMA Ribbons!
I normally don't like analysing 1 H charts, but let me try.
I think there is high probability of bouncing up again soon. We found support after the retrace of BTC today at night. 7250 areas.
I also think this looks like a bull flag or kind of a bullish sign. Bulls need a break from the overheated pumps previously. Which is logical.
We could go sideways in short term now. 7200-7300 areas in the next 24 h at least.
But if positive news and positive sentiment follows as before, we could go for the 7700-7800 areas.
As soon we pass 7500 areas again, there could be an additional short squeeze that will give us an acceleration to the higher levels.
*This is not an financial advice, this is only an idea. Do your own research and act on your responsibility.
I think there is high probability of bouncing up again soon. We found support after the retrace of BTC today at night. 7250 areas.
I also think this looks like a bull flag or kind of a bullish sign. Bulls need a break from the overheated pumps previously. Which is logical.
We could go sideways in short term now. 7200-7300 areas in the next 24 h at least.
But if positive news and positive sentiment follows as before, we could go for the 7700-7800 areas.
As soon we pass 7500 areas again, there could be an additional short squeeze that will give us an acceleration to the higher levels.
*This is not an financial advice, this is only an idea. Do your own research and act on your responsibility.
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