BTC: failed to surpass EMA 200
On the chart, we have 3 EMA: EMA 18 (green), EMA 50 (yellow) and EMA 200 (kind of purple).
BTC failed to brekaout EMA 200. Furthermore, we have EMA 18 and EMA 50 around the 7.5k level (on the bottom of the congestion zone 7.5~8.3k).
MACD is suggesting a correction movement. If this movement is confirmed, then we will have the following targets:
1) the 7.7k level (actually BTC is around this level);
2) the 7.5k level;
3) the 7k level (the purple uptrend started in january 2019) -> a strong reaction around this level (as we saw recently), will confirm that BTC is on a uptrend.
A breakout ot the purple uptrend line will invalidate the present analysis.
*For education porposes only. This is not a recommendation.
BTC failed to brekaout EMA 200. Furthermore, we have EMA 18 and EMA 50 around the 7.5k level (on the bottom of the congestion zone 7.5~8.3k).
MACD is suggesting a correction movement. If this movement is confirmed, then we will have the following targets:
1) the 7.7k level (actually BTC is around this level);
2) the 7.5k level;
3) the 7k level (the purple uptrend started in january 2019) -> a strong reaction around this level (as we saw recently), will confirm that BTC is on a uptrend.
A breakout ot the purple uptrend line will invalidate the present analysis.
*For education porposes only. This is not a recommendation.
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