BTC Status - 4-January-2021
BTC has clearly been extremely bullish since it has been bought up along the 4 EMA (gold line) for weeks.
Right now, it is having a minor pull back and testing the 4 EMA on the daily. It held that level strongly.
I would not go long at this level. BTC will either pull back even more towards the 13 EMA (gray line) or will consolidate/form a bullish flag and continue upwards.
If you are looking to go long, I would be a buyer if it crosses the $33,670 area or if it dips to the 13 EMA and holds (i.e. $28,400 ish).
Right now, it is having a minor pull back and testing the 4 EMA on the daily. It held that level strongly.
I would not go long at this level. BTC will either pull back even more towards the 13 EMA (gray line) or will consolidate/form a bullish flag and continue upwards.
If you are looking to go long, I would be a buyer if it crosses the $33,670 area or if it dips to the 13 EMA and holds (i.e. $28,400 ish).
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