Bitcoin (BTCUSD) tried to break above EMA100 on the 4H time frame multiple times before succeeding. I would like to take a closer look at this... Please allow me to entertain you for a few minutes:
Thanks a lot for reading.
Namaste.
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THIS IS NOT FINANCIAL ADVICE.
Previous analysis:
- First we see over 12 failed attempts to break above EMA100, which is the blue line. But BTCUSD would always produce a higher low at each attempt.
- It finally broke above EMA100 and remained below it. There was an attempt to push the price down unsuccessfully and BTCUSD moved to close above $8075 with good strength and volume. With this move, we can expect additional bullish action.
- Both the MACD and RSI are on the bullish zone which gives further strength to this setup.
- If BTCUSD can remain trading above EMA100, it is very like that it will go higher and reach $8750 or up to $9000+... Certain conditions must be met just as it can move back down.
Thanks a lot for reading.
Namaste.
----------
THIS IS NOT FINANCIAL ADVICE.
Previous analysis:
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🔥 Lowest Prices Ever ➖ PREMIUM LIFETIME Access (Perfect Entry-Timing)
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4H:
1H: