BTC Rejected by the 200 EMA!
Here's a quick look at BTC 4 hr chart. As we can see the price is right now in a bigger falling wedge.
Also the 200 EMA on the 4 hr chart has worked as a support throughout the bullrun. If we can get back above and close above it, that would be a bullish sign - otherwise we will continue lower!
Also the resistance zone is a very important zone to overcome. If the price can manage to get past the resistance zone, 60k is then very likely and i should remind you that we've got an unfilled CME gap at 60.3k.
The volume is decreasing and the price is increasing - that's a bearish sign! We are at the top of the falling wedge, and it would make sense to get a pullback or a bigger breakout to the upside.
If we break below the crucial zone, the price will very likely get down to the support zone.
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
Also the 200 EMA on the 4 hr chart has worked as a support throughout the bullrun. If we can get back above and close above it, that would be a bullish sign - otherwise we will continue lower!
Also the resistance zone is a very important zone to overcome. If the price can manage to get past the resistance zone, 60k is then very likely and i should remind you that we've got an unfilled CME gap at 60.3k.
The volume is decreasing and the price is increasing - that's a bearish sign! We are at the top of the falling wedge, and it would make sense to get a pullback or a bigger breakout to the upside.
If we break below the crucial zone, the price will very likely get down to the support zone.
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
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