I'm currently looking at BTC on the 1 hour to find out what BTC is doing more short term. I'm also strictly using EMA indicators here as I want to show you how powerful they can be.
Previously when the lower EMA crosses up or down over the longer EMA you can find a change in the trend either bullish or bearish depending on which direction is crosses.
Where I have labelled, "EMA crossing up." You can find a change in trend to be bullish. Where I have labelled, "EMA crossing down you can find a change in the trend to be bearish. To cause this change in trend and the EMA crossing could be made up of multiple factors, Volume increase, a break in key support or resistance structure and news in bitcoins case.
Now what i'm looking at currently is that the 20 EMA is under the 50 EMA showing bearish signs. If the 20 EMA can be used as support and we don't break down then we can see signs of stability and consolidation. We currently see BTC break under which tells me that BTC isn't going to hold and most likely head to previous support unless we have enough buyers to push BTC back above the EMA.
Either way we are still bearish until the 20 EMA crosses above the 50 EMA and doesnt break and close below the 20 EMA.
Previously when the lower EMA crosses up or down over the longer EMA you can find a change in the trend either bullish or bearish depending on which direction is crosses.
Where I have labelled, "EMA crossing up." You can find a change in trend to be bullish. Where I have labelled, "EMA crossing down you can find a change in the trend to be bearish. To cause this change in trend and the EMA crossing could be made up of multiple factors, Volume increase, a break in key support or resistance structure and news in bitcoins case.
Now what i'm looking at currently is that the 20 EMA is under the 50 EMA showing bearish signs. If the 20 EMA can be used as support and we don't break down then we can see signs of stability and consolidation. We currently see BTC break under which tells me that BTC isn't going to hold and most likely head to previous support unless we have enough buyers to push BTC back above the EMA.
Either way we are still bearish until the 20 EMA crosses above the 50 EMA and doesnt break and close below the 20 EMA.