Lets first make the assumption that we are currently in a bull flag that has been created by a larger green candle with some volume that was rejected off of the 50 EMA. If we travel through the flag and build up some momentum, the bulls may be able to break above the 50 EMA resistance. If that happens, I am looking for a movement up around the 1.41 fib extension. There is a previous structure trend line that could come close to intersecting the 100 EMA around the same time period. It would be great if the bulls can put out a volume flag and break above to the 1.61 extension.
It is also possible that the 50 EMA provides enough resistance to send BTC down, where we can hope to find support around 7550.
I am going to keep a close eye on the movement that could happen in the next 9 hours or so.
**this information is for educational purposed only**
It is also possible that the 50 EMA provides enough resistance to send BTC down, where we can hope to find support around 7550.
I am going to keep a close eye on the movement that could happen in the next 9 hours or so.
**this information is for educational purposed only**
