Bitcoin (XBT) Price Action (4-Dec) @alanmasters

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Bitcoin’ (XBT) continues consolidating sideways. We can see higher lows being created on the 4H TF. Let's look at price action.

• Our immediate resistance is sitting at $4000 and $4070. A break above this level take us to test $4350 which is the resistance that needs to be broken in order for Bitcoin’ (XBT) to move up.
  
  
• We are looking at EMA10 ($3940) as are immediate support, followed by $3900.
  
  
• If Bitcoin’ fails to move above EMA50 ($4070), then it will test our support again at $3800 and continue this dance (up and down) until one side gives way...
  
  
• The RSI has now gone past 50 but still has some resistance to break.
  
  
• I will keep this thread updated as the charts develop.
  

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Alan Masters here...

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