BTCUSD - Daily 200 EMA Still Stifling Price
As you can see, the 200 EMA (purple line) on the Daily chart is still stifling the price and has been stifling it since the infamous "China" surge in late October. But what's even more troubling is that the 200 MA (black line) has now gotten a negative slope, and the last time that happened was in June 2018, and we all know what happened next.
If we can break the 200 EMA then it's almost a given we'll go back up to the 200 MA, which is currently at around 9300, but given the 200 MA's now negative slope, it's still extremely hard to see this current situation as bullish.
If we can break the 200 EMA then it's almost a given we'll go back up to the 200 MA, which is currently at around 9300, but given the 200 MA's now negative slope, it's still extremely hard to see this current situation as bullish.
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