BTC Still Below 3 EMAs!
First of all, MERRY CHRISTMAS! Hope you enjoy the TA :)
Looking at BTC on the 4h, we can see it's still under the 50, 100, and 200 EMA:
Pink - 200 EMA
Blue - 100 EMA
Purple - 50 EMA
Until we break these, my bias still remains to the downside. Now there's still support at 16.7k, so whichever move we make, it will be violent. If BTC breaks to the downside, we're still looking at 16.3k as our next level of support and where I'll start to DCA. If we break to the upside, 17.3k is the next level where I would be looking for a short, follwed by 17.6k.
With all of this said, if you want to place a long, you could place it here with stops at 16.6k, or wait for a short at 17.3k. I would not try to trade anywhere in-between.
If you enjoyed my TA, please send a boost my way and comment below! :)
Looking at BTC on the 4h, we can see it's still under the 50, 100, and 200 EMA:
Pink - 200 EMA
Blue - 100 EMA
Purple - 50 EMA
Until we break these, my bias still remains to the downside. Now there's still support at 16.7k, so whichever move we make, it will be violent. If BTC breaks to the downside, we're still looking at 16.3k as our next level of support and where I'll start to DCA. If we break to the upside, 17.3k is the next level where I would be looking for a short, follwed by 17.6k.
With all of this said, if you want to place a long, you could place it here with stops at 16.6k, or wait for a short at 17.3k. I would not try to trade anywhere in-between.
If you enjoyed my TA, please send a boost my way and comment below! :)
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