BTC Lower timeframe assessment (89 EMA)
With the higher time frames unquestionably bullish (things can change, of course, but you need to go with the trend until it changes), the current situation is a game of patience and well-placed orders. You can see how the 89 EMA on the 2 hr (and also the 1-hour) has been supporting the lower time-frame price action through this entire bull run.
In the current sideways consolidation, we've already hit the 89 EMA once. If we get a candle close under the red line, I would expect the price to hit it again, which I would see as a great buying opportunity and a way to get into a long if you missed the buy at the 50K area.
In the current sideways consolidation, we've already hit the 89 EMA once. If we get a candle close under the red line, I would expect the price to hit it again, which I would see as a great buying opportunity and a way to get into a long if you missed the buy at the 50K area.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.