BTC perfectly testing the 200-day EMA after getting rejected at a dominant trendline, just shy of the 43K mark.
A break above the trend line, or below the 200-day EMA(with volume). should give us direction for the immediate short term.
To my understanding, moving averages are invalid during accumulation and distribution.
Expecting a huge short squeeze due to the amount of short positions taking in anticipation of this (in my opinion invalid) cross.
To take a contrarious long?
opinions???
bitcoin finally making higher highs, backed with volume.
remember buy the dip, not the pump!!
expecting a slight pullback to 37-38k
still need a more bullish sentiment in the market to be sure accumulation has passed but 'up' is the right direction.
For those using Stop Losses keep them under previous lows, trail them up as new lows are formed.
