Trading recommendation: Bitcoin
Bitcoin is looking to break out above 200-day EMA
Bitcoin had tested the resistance 200-day moving average in the middle of the past week and today did it again. However, the coin was unable to break out above the resistance line and had retreated, before resuming its bullish rally. The rally in the BTC price is accompanied by rising volumes which indicate that the rally has a lot of strength left and is likely to trend upwards. And the MACD, which made a bullish crossover will likely reinforce this uptrend in the near term. Overall, technicals indicate a mixed trend for Bitcoin price, but more inclined towards an upward trend.
TradingView Link — https://www.tradingview.com/chart/BTCUSD/Y9usrZvG-Bitcoin-is-looking-to-break-out-above-200-day-EMA/
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