COINBASE:BTCUSD   Bitcoin / U.S. Dollar

Bitcoin's price on the daily's has been squeezing and finding support at the 8 EMA for the last few days and today the price wicked down to that level, again. I see two likely scenarios from here, the longer this squeeze continues. We either see price breakout to the upside, or, most likely is that BTC breaks support at the 8 EMA . However, If that happens, I think BTC will find support at the 21 EMA , currently, $8,800, which could be just what it needs to get some upward momentum going again. It may just wick down to the 21 EMA .

The weekly chart has been indicating that we could be seeing a market bottom, if BTC can maintain its current levels;


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