Yes, BTCUSD has now conquered the 200 MA on this 45 min chart however, as you can see... the wave undulation of the 50 MA here is indicating a potential downward movement which will likely draw the price action lower in the short term. I have adjusted a projected pathway but I would really like to see BTCUSD take support on the one hour chart to be more convinced of a long call but I am still leaning to bullish and a move back to the 20 K range.
Note
Hitting an upper trend line here. Very bullish move but I would suggest caution here and perhaps you will get a better entry point so if you are thinking of entering here then perhaps a half position or one third to start.
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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.