Bitcoin in limbo

Updated

A typical manipulation move: bart up and bart down within 24hrs. We've been seeing this type of behavior all year long. I'll keep this one simple. The 200 EMA is acting as resistance, while the bottom of the triangle (trendline) is acting as support.

This idea is just for educational purposes and by no means trading advise.

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A daily close below 3690 could be bad news for the bulls and send us towards the next support levels: $3500, $3345, $3225.

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Bitcoin daily candle has closed right at the top of the triangle, bulls showing their presence, but not enough to confirm a breakout. This next daily candle will most likely give us a clear direction in the short term.

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Ethereum looking really strong and could continue if btc rallies.

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BTC revisits the trendline! Let's see what happens next. Will it hold? Thoughts and ideas welcome.

Jimmy_Ocean

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