As we continue to bounce from support found around the 30K level, BTCUSD finds itself with a fight against the 12hr 50 EMA to try and reclaim 35K range once more. However, the bears seem to have the upper hand at the moment and are putting up a very significant fight. If the bears do indeed succeed, they could push BTCUSD back to do 30K and perhaps all the way to 28K-26K level where we find our next support zone.
On the daily chart we see RSI trying to retest the 50 level once again and find MACD still on a downward trajectory but still above our 0 line.
Please don't hesitate to share your ideas or post any comments below.
On the daily chart we see RSI trying to retest the 50 level once again and find MACD still on a downward trajectory but still above our 0 line.
Please don't hesitate to share your ideas or post any comments below.
Comment:
Just as I am uploading the video, BTCUSD is started to retest the 50 EMA (yellow line) on the 12hr timeframe and our last candle has now turn bullish. If we can re-claim the level, BTCUSD could go up and test 20 EMA (purple line) which is around 35K. Keep in mind a lot can still happen as there's still a lot of time before this current candle closes.
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