BTC appears to be holding the Aug 22nd, 2017 low. The MACD is also trying to turn bullish, here on the daily chart. If price continues to hold the 8/22/17 low, we could see a relief rally with the potential of sending BTC up near $5,000. For that to happen, price obviously needs to hold this potential short-term bottom. Additionally, the extremely resistive 50 EMA (in orange) is rapidly falling toward price. The 50 EMA is likely to continue providing resistance, stifling any significant rally attempts. A failure at the 50 EMA would be a great sell signal. A confirmation above the 50 would be a game changer.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
评论:
BTC is running into resistance now, at the 200 EMA on the one hour timeframe.
