Hello guys, the price of Bitcoin (BTC/USD) is currently moving above the EMA 20, which indicates a possible uptrend. Please be aware of a possible Fakeout scenario, which we have seen multiple times in the past (yellow boxes). As long as we don't see a higher high (above $7.450) our trading direction is short.
I'm expecting the price to make another move towards our next support, located at the $5.200 level from where the price could bounce in anticipation for the Halving event. I don't see any reason to be bullish after this event.