Is Bitcoin Going Back To $28,000? Short-Term (1H Timeframe)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Wait... Don't get too comfortable... Remember that one?

Retraces and corrections have been non-existent for Bitcoin ... Or better yet, short-lived.

We are seeing strong consolidation take place near resistance.

When prices are going to drop, they drop.
Staying near resistance is a signal of strength.

Based on this chart, BTCUSD 1H, we are likely to see higher prices soon.

Conditions for change
If Bitcoin moves and closes below EMA50 ($26696) the short-term bullish bias is lost and this analysis can be considered invalid.

We do not trade here.
We focus on the altcoins.

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