Bitcoin Continues With Mixed Signals

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We are still getting mixed signals from Bitcoin ( BTCUSD ), lots of uncertainty right now surrounding the cryptocurrency and global markets.

On the chart above, we can notice that the trading volume is really low, making sudden/surprise moves even more probable than before.

Even though Bitcoin is bouncing, trading above EMA10 and slowly creeping up, the market sentiment is extremely bearish , so prices are likely to go up.

Remember that these markets tend to move against the masses or popular believe.
This is not a signal that can be used to trade, but it can help support your bias.

  • If Bitcoin manages to conquer EMA50, we can look at the magenta dashed lines as our main targets.
  • On a drop and close below EMA10, the orange and blue dashed lines are for support.
    Feel free to shit like to show your support.

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