the bitcoin bulls have been defending the $10,000 mark for the past few days. but they have not been able to push prices higher wich is a point of concern
the cryptocurrency has broken out of the down tredline one, which shows that the momentum on the downside has deceased. we can expect a few more days of range bound action between $10,000 and $12,000
it is difficult to predict whether the upside or the downside move comes next.
if the bulls succeed in breaking out of the 20 day EMAwhich is currently at $12,218 the btc/usd pair should rally to the down trendline two the traders can wait for the breakout above $12,200 to sustain for about 4- hours and then buy with a stop-loss at $9,900 the downside is $8,000
good analysis
Quite informative
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