Bitcoin Facing Resistance At MA200, Level To Watch +Altcoins
Bitcoin (BTCUSD) is now facing resistance at a conjunction point of multiple EMAs.
MA200, EMA10, EMA200, and EMA300 are all intersecting at the same spot, the $10760 - $10780 price range (This is the level to watch).
The trading volume is really low lately and the price action choppy... An indecision period.
Looks like some Bitcoin sideways is possible.
ALTCOINS[/B]
On the other hand, the Altcoins vs Bitcoin (ALTSBTC) pairs are starting to move while gaining bullish momentum.
The longer that Bitcoin stalls...
The more the Altcoins grow.
Namaste.
MA200, EMA10, EMA200, and EMA300 are all intersecting at the same spot, the $10760 - $10780 price range (This is the level to watch).
- Failing to move above this level will signal lower prices (red arrow).
- But if instead, Bitcoin manages to conquer this resistance, we will see a challenge of the descending trendline in orange (green arrows).
The trading volume is really low lately and the price action choppy... An indecision period.
Looks like some Bitcoin sideways is possible.
ALTCOINS[/B]
On the other hand, the Altcoins vs Bitcoin (ALTSBTC) pairs are starting to move while gaining bullish momentum.
The longer that Bitcoin stalls...
The more the Altcoins grow.
Namaste.
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