BTC now trading around 6620. We are looking in to the whole situation of the market. One thing that we found is the 20 EMA of both BTC and ETH. This moving average can be important to indicate a reversal. If both BTC and ETH go above this 20 EMA a reversal normally follows. Now we are in a difficult situation... BTC is above the 20 EMA and ETH beneath it. This situation makes it hard to predict what will happen, will bitcoin go up because it broke this EMA or do we need both to be above it (like it did in the past)? Conclusion is, that we still can't say we have made the reversal / bull run. Be safe and trade with a stop loss!
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Thank you in advance!
I am new to this can you help me to grow.