History doesn't always repeat itself but it does influence probability. The past has shown that BTC tends to test the weekly 21 EMA during up-trends. This is widely known and talked about. It's yet to do that during this run and has now risen to a level of immense interest and confluence:
It's just below the major support of 9450 for the entire formation that's already been tested too many times, slightly above the last monthly candle low, very near the all time S/R trend line and a bit above the 3-day 50 EMA which has served as a last line of defense during prior bull runs.
Is BTC going to the moon? Maybe.
Is it dropping to doom? Possible.
Does it test the weekly 21 EMA that everyone talks about before deciding? Probable.
It's just below the major support of 9450 for the entire formation that's already been tested too many times, slightly above the last monthly candle low, very near the all time S/R trend line and a bit above the 3-day 50 EMA which has served as a last line of defense during prior bull runs.
Is BTC going to the moon? Maybe.
Is it dropping to doom? Possible.
Does it test the weekly 21 EMA that everyone talks about before deciding? Probable.