We are back to Bitcoin (XBTUSD) and our $6,800 target.
We had two targets and a retrace followed after the first one hit... Now we are seeing some early signals pointing to a challenge of the next resistance level.
After EMA100 rejected XBTUSD, a higher low came in compared to the 29-March. With this low in place, if the current 4H candle closes above EMA50 ($6326), chances are higher that prices will go up.
If momentum is lost, a close below $6150 can send prices lower. If prices drop but there isn't much volume, we expect a bounce after (blue arrow).
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