Bitcoin's Last attempt to ride up?
Hello guys, Mr.Karimi here and i'll be with you today analyzing the bitcoin trend in the following days. As you can see there are 3 EMA's along with a decent Price Action Level holding the bitcoin correction strongly. The Orange Line is the 50 Daily EMA, The Red line is the 100 daily EMA and the Black one is the 200 Daily EMA. so basically I would consider these EMA's a strong zone of support for BTC as long as the price respects them and doesn't try to violate the zone. I have 2 Scenarios here one that BTC would run up for the last time touching it's all time high and then bears come in and reject the price strongly back to 31K and the other would be a little optimistic though as bitcoin goes up breaks the all time high and retests the level and starts consolidating for a few days to collect strength and reach for higher Targets. I'll Update this Idea later to see which direction bitcoin would choose. What's your analysis of the Trend? Leave your opinion in the comment section and let's discuss about it.
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.