BTC is retesting the trend line, now as resistance.
It's also about to touch 12H EMA36 (as resistance), which historically, takes more than once to break through.
So BTC is on critical area to decide we have strong or week bounce. Remember it's still on daily down trend, and we have a long way from recent high (10,500).
Overall, I am looking for signs of the top of this bounce, and expect BTC go back to daily down trend.
It's also about to touch 12H EMA36 (as resistance), which historically, takes more than once to break through.
So BTC is on critical area to decide we have strong or week bounce. Remember it's still on daily down trend, and we have a long way from recent high (10,500).
Overall, I am looking for signs of the top of this bounce, and expect BTC go back to daily down trend.
* momentum mean: exponential average of N momentum bars. (default N = 26)
I would still see 12H momentum in up trend unless we drop to -6%. Which means for daily trader there is chance to trade the bounce (back to 12H EMA36).