Bitcoin's 55 EMA
BTC has come alive recently, and with volatility comes opportunity. Let's talk about it. Right NOW (11:45 am 5/20/2020) someone dumped 700 BTC with one click, pushing BTC to under 9500 fast! This could of been the spark the bears needed to break out of the wedge and put us in a downward direction to many support areas. HOWEVER, the 55 EMA has been the best support thus far. After the next candle closes I will be Bearish/Bullish depending on the close in correspondence to the 55 EMA
In my analysis I highlight the past candles (3 hr) that made an attempt to cross the 55 EMA on this bull run. If the next two candles close once again above the 55 EMA, I am remaining bullish. I will have to analyze BTC patterns again and see where upcoming entries could be, but this is just a analysis I am publishing as a idea for BTC's short term direction. Comment below
In my analysis I highlight the past candles (3 hr) that made an attempt to cross the 55 EMA on this bull run. If the next two candles close once again above the 55 EMA, I am remaining bullish. I will have to analyze BTC patterns again and see where upcoming entries could be, but this is just a analysis I am publishing as a idea for BTC's short term direction. Comment below
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.