Bitcoin look likely to bounce down again from the 200 EMA line as a point of resistance. Btc should bounce off the EMA 50 line as it will find support there around 9,100. Bitcoin looks to struggle back to 12,000 before it falls to retest 6,000 lows. This should be its final test of the bottom before turning to new all time highs in the next 4 to 6 months. Be cautious as this trend reversal or the rather our current short term bullish trend has not been confirmed. This is not financial advice just a view on possible market direction.
Note
Note
There is a lot of resistance built up in the 10,500 to 12,000 range. The cloud shows a good visual on the 1 day chart of struggles ahead. Bullish on the 30 min charts but needing a lot of work on the 1 Day chart to prove to be a confirmed trend reversal from our last correction to head into a new long term bull run.
Related publications
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.
Related publications
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.