BTCUSD - Bearish-to-Bullish Market Reversal
We just about touched the 200 Exponential Moving Average (EMA) and then the market reversed.
Barely touched is good enough for me, given previous EMA200 touches have not always made perfect contact with the EMA.
Three scenarios here:
All the best!
Barely touched is good enough for me, given previous EMA200 touches have not always made perfect contact with the EMA.
Three scenarios here:
- We might see a retest of the 9K / 8K level here over the next 1-2 days.
- A continuation of the upward momentum will serve as a confirmation of the reversal at the support levels indicated in the chart. In other words, bear market is over; bulls are back - not just for BTC, but for the whole market.
- Consolidation for the next 1-2 days at the 10K/11K levels, then continuation of the upward trend.
All the best!
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