On the chart above, we can notice that the trading 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 , 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.