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Bitcoin (BTC): Time To Re-Test $50K

On a daily timeframe, we are looking for a possible final switch of trends to happen here.

As we all remember, we had a nice dump movement that touched 50K + all EMAs. While we had a nice rally, we also had a nice re-test, which as of now seems to be getting pretty rejected and is getting ready for a second round of movement towards 50K.

Swallow Team

註釋

Another day and bitcoin has again made a fakeout near 200EMA.

Where months ago we were looking for a clean break of 200EMA, now we see that this zone is lost and fights are still going between buyers and sellers.

We will keep it simple here, as there is not much clarity right now. We are keeping to the same scenario as long as we see the price below 100 EMA.

200EMA has lost control of the price and now we are just jumping from one side of it to another.

So, we are still looking for that 50K but as long as we are below 100EMA daily!

註釋

Bitcoin had another bullish momentum yesterday, where the price got yet again suppressed straight away.

We continue to wait for a second wave of selling here as we see that sellers are having hard times with all the bullish momentum here.

註釋

Bitcoin is back near 100 EMA, where the price had a sharp breakout from 200 EMA after sitting pretty near that same EMA.

As we have mentioned previously, we are still looking for the downward movement to happen, and our gameplan has not changed ever since.

We wait and keep an eye on 100EMA so keep an eye on that zone there for now.

註釋

The bitcoin chart is full of "pump & dump" moves, where one day we had a nice green candle and another day we had a red one.

This week was full of chaos and prices are still in between the EMAs, where the fight between sellers and buyers is.

As long as we are inside that zone of chaos, we are not looking for any significant movements to the upper zones, as sellers still maintain this area there.