BTCUSD - Analysis of: 29.02.2020
In the last sessions the bulls are trying to bring prices above 9,000, keeping as support the EMA200 (8,600) which is close to the 0.5 FIB level;
a break above this resistance level (9,000) is a positive sign that it could restart the price upwards towards the downtrend line at 10,480, finding a first resistance area at 9,600.
On the other hand, if buyers are unable to maintain support at 8,600, breaking the EMA200 downwards, we may see a further collapse that will find a first support at 8,250 (FIB 0,618).
a break above this resistance level (9,000) is a positive sign that it could restart the price upwards towards the downtrend line at 10,480, finding a first resistance area at 9,600.
On the other hand, if buyers are unable to maintain support at 8,600, breaking the EMA200 downwards, we may see a further collapse that will find a first support at 8,250 (FIB 0,618).
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