works2020

BTC Momentum as it Reaches 50EMA

works2020 Updated   
BITSTAMP:BTCUSD   Bitcoin
I don't see the same amount of momentum to carry BTC much higher without more volume. Support slowly moving up from 31-32k range but on low volume. If support doesn't hold up my analysis shows S1 and S2 support areas coming into play.

As BTC slowly trends towards the 50EMA the volume needs to increase to provide a substantial push through and above. Without it could see a sell off like the one from 60k- 35k.

Will continue to watch close.
Trade closed: stop reached:
stop order reached awhile back, volume is tricky seemed light but looking back was increasing. still continue to watch and learn as BTC moves upwards.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.