Bitcoin Starts To Recover |Moves Above EMA10 4H (Where To Next?)
We have a positive signal now with Bitcoin (BTCUSD) moving above EMA10 on the 4H timeframe.
EMA10 sits at $50763 (candle closure is needed for this bullish signal to be confirmed).
The 4H candle closes in 2 hours.
With prices moving back above EMA10, this signals that the bulls are jumping back into the game.
Our initial and main support at $55,000 will now work as resistance.
This is the next target if the bulls continue to push prices higher.
Conditions for change
We go strongly bearish on a candle close below $47,000.
Was this just another shakeout?
A healthy correction?
TSLA guy had diarrhea?
It doesn't really matter as long as the market continues to grow.
Namaste.
EMA10 sits at $50763 (candle closure is needed for this bullish signal to be confirmed).
The 4H candle closes in 2 hours.
With prices moving back above EMA10, this signals that the bulls are jumping back into the game.
Our initial and main support at $55,000 will now work as resistance.
This is the next target if the bulls continue to push prices higher.
Conditions for change
We go strongly bearish on a candle close below $47,000.
Was this just another shakeout?
A healthy correction?
TSLA guy had diarrhea?
It doesn't really matter as long as the market continues to grow.
Namaste.
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We are now strongly bearish.