BitcoinLong
Bullish Bias on BTC with reasonings
Bullish Bias on BTC with following reasons: 1W chart
1. CHoCH change of character.
As shown here with the path of price movement, we can see price of BTC has already broke the structure.
Previously we can see it was forming LLs and LHs, now we can see it has started forming HLs and HHs.
2. 20 EMA crossing over 50 EMA. Both are above 200 EMA.
We can see last time 20 EMA crossed below 50 EMA in April'22.
Finally 20 EMA is at the verge of crossing above 50 EMA.
It's already crossed above 200 EMA.
3. We are at the previous support zone and consolidating to prepare for a breakout.
Clearly finding demand at EMA crossing zone.
1. CHoCH change of character.
As shown here with the path of price movement, we can see price of BTC has already broke the structure.
Previously we can see it was forming LLs and LHs, now we can see it has started forming HLs and HHs.
2. 20 EMA crossing over 50 EMA. Both are above 200 EMA.
We can see last time 20 EMA crossed below 50 EMA in April'22.
Finally 20 EMA is at the verge of crossing above 50 EMA.
It's already crossed above 200 EMA.
3. We are at the previous support zone and consolidating to prepare for a breakout.
Clearly finding demand at EMA crossing zone.
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