After breaking above the 20 EMA on the daily chart, BTC saw a rally to the upper end of a falling wedge pattern dating back to June of 2019. It's now broken out, but is facing resistance at the 233 daily EMA around $8100. The same resistance point can be found on the weekly 20 EMA. A daily close above this (around $8200) could be a very good sign of near term upward momentum as the last time it closed above the 20 and 233 daily EMAs, it surged ~14%. Only this time, we will have confirmed a break out of the wedge as well.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.