Important close for Bitcoin!!
Bitcoin has recovered very strongly after our recent correction, even while dominance was falling! We are currently sitting directly on the 0.2 FIB level and our daily close is in a little over an hour, i will be watching closely as if we drop below the 56K level we could see a little downside. We are seeing the EMA ribbons starting to squeeze together, they remain bullish unless we do see some more downside and if we saw the EMAs twist to red on top. If that were to happen we could see a massive swing down, so the EMA ribbons are always important to watch! The zero lag MACD is starting to slope and looking like we could see some bearish momentum, we are still bullish with nice separation between the blue and orange but definitely watch this. We are coming down on the RSI and currently are at the 50. point so this is very very important to keep an eye on if we fully breakthrough the 50. and don't recover quickly we will we a confirmed downtrend, this is possible but we do have lots of room to run up before we are overbought so we will have to wait and see. Not financial advice just my opinion!
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.