Bitcoin (BTC) Price Analysis - Bitcoin Eyeing A Downtrend
As called, #BTC is going to bounce on that EMA (15) on the 1D chart… Now although it didn’t technically “bounce” you can see the wick is slightly below the EMA and ended up closing right above the pink EMA which is the 15.
What does this mean? Well now we are looking at today. If #BTC is to close below that Pink line, there is a great chance it is going to fall back to the purple support (old resistance turns to new support)
I don’t think this is a big down trend but more so a break for the bulls. We have been down trending for a while and I don’t expect insane price movements but rather a steady climb with noticeable pumps.
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