Bitcoin - Spotting reversal using Price Action and EMA'sA simple idea of what to look for when we finally break this bearish trend.
We see late in 2015 how the most simple price action and EMA concepts can give us an undeniable reason to start building a long position.
Once price broke above PA-based resistance, we got a retest of both the PA and the 55 EMA, we also see that the EMA's has flipped to bullish formation and the inability for daily candles to close back inside the noted level of price. Not taking that long would have been a huge mistake. No risk, no reward, right?
So what about price right now?
We simply look for the same indications, we let the chart do the work.
Price action resistance must turn support, the EMA's must flip, and at that point in time, it will be time to start thinking big.
Idea by Jack
