The recent rally got rejected at the 200 daily ema and now the market is in a no trade zone.
BTC bulls have a legitimate opportunity to change the macro trend again. The ema setup is very similar to April 2019, as there's a potential golden cross on the daily and if price keeps this level then it will occur in the next 6-7 days. All btc has to do to convince me for an uptrend is keep at the very least the 7800 level intact on the daily and preferably 8300 as well. Then if that happens I'll look for consolidation around the daily 21 ema to see if the cross is respected, if it is ill long 5x with a target of 10800.
BTC bulls have a legitimate opportunity to change the macro trend again. The ema setup is very similar to April 2019, as there's a potential golden cross on the daily and if price keeps this level then it will occur in the next 6-7 days. All btc has to do to convince me for an uptrend is keep at the very least the 7800 level intact on the daily and preferably 8300 as well. Then if that happens I'll look for consolidation around the daily 21 ema to see if the cross is respected, if it is ill long 5x with a target of 10800.
Note
There won't be any directional moves till next week imo, short 8700s and long 8500s as long as this range exists. If btc is gonna move up it's actually gonna be fairly obvious by next week and it will probably do so with a slow unrelentless grind up to 9100 or so and then it will see some volatility.
Note
Bears are quite possibly about to get gently carresed next week. Await for golden cross confirmation for a super high probability long.
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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.