Bitcoin (BTC) Gaining Support - Let’s Prepares for the Next Move
The Crypto market is currently impacted by the recent statement from South Korea that there's going to be heavy debates before they close the crypto exchanges. The news is contrasts what the Justice Minister had said last week. Global investors are likely to shift their investments back to the crypto world in response. Here's what we can expect to see in BTC today...
BTC/USD - 50- Periods EMA Crossover
The BTC/USD is still consolidating in a narrow trading range of $12,685 - $14,650. Opportunity presents itself in this choppy market in the form of selling on the upper boundary, and buying above the lower one.
You can see on the 4 - hour chart that the BTC remains above the multi-days support level of $12,681. The Bitcoin has tested this level three times, making it a triple bottom pattern as of now.
BTC/USD - 4 - Hour Chart
The 50- periods EMA is working quite efficiently, as investors have failed to cross above the EMA four times. At the moment, the same EMA is likely to provide resistance at $14,200.
Key Technical Levels - BTC/USD
Support: 13,004.6 12,389.6 11,717.3
Resistance: 14,291.9 14,964.2 15,579.3
Key Trading Level: 13,676.9
BTC/USD - Trade Idea
Crypto junkies are suggested to keep a close eye on $13,675, as below this, the BTC/USD is likely to trade bearish with a target of $12,685. On the other hand, above $13,680, BTC/USD can go after the $14,985. Good luck.
If BTC cross this resistance of 14k what'll be ATH? And what about Alt coins? Specially Liteocoin? Ethereum?
Will they also pump simultaneously?
currently keep close eyes on $13,675 below on this btc will bearish with target $12685