Bitcoin facing clear EMA rejection since $9000 range
Bitcoin has been in bear control strongly since the break under $9000 range. The 12/26 ema hourly has served as resistance consistently, with a few spikes to 50. This current oversold bounce will likely also face rejection in the 12/26 ema zone. With the SPX/DJI correlation, a push might take it a little further before continued downside. Given overall market conditions, support is not to be trusted and neither is bottom.
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.