Future Swings On BTC
The monitor is purposely divided in two, 2H time frame on the top side and Daily time frame on the bottom side, to illustrate the “Mother” Resistance of 55 EMA at 23361$ on the daily time frame (highlighted with an orange circle) approaching to price channel. This may indicate that bullish momentum is not over yet until the 23361$ is not tested. Therefore, we may expected a possible swing on bullish direction to this resistance and a subsequent correction around previous support levels of 19239$. However, the reversal may be not as the strong as previous ones as the channel is on bullish direction confirming up trust. In fact, we notice a bullish crossover of the EMA55 over the EMA 200 on the 2H time frame as well as the crossing of the MACD line above the signal moving towards a positive divergence. For this reasons we expect an upward swing with target price to 23361$ followed by a correction towards price range of 19985-19239$.
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