We also have a candle/reversal signal and high .
This is the 4H chart:
When looking at the , this level that was tested is marked by EMA50.
Tested for the first time since Oct. 2020.
If you remember my analysis after BTCUSD went below EMA21 and ended up with a lower high on the bounce, any close below EMA10 after that would send prices to the next in line, in this case, that is EMA50.
Now that EMA50 is tested Bitcoin goes back up... Here is how it works based on my original analysis.
If BTCUSD hits a new higher (higher high compared to 14-Jan.
Any retrace will conclude higher than EMA50 but... If instead Bitcoin prints a lower high on the current bounce then we go even lower and test EMA100 (blue line) which is next.
So there you have it...
What is happening now (price bounce) and what will happen next based on my analysis.
We have more signals and tools of course, but this is the one today for you all.
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