Bear flag breakout for bitcoin! Approached the 50 day EMA and rejected. Breakout not confirmed yet but strong volume and a large candle improves odds of some continuation. Tomorrows close is important for that chart. The more important chart is the weekly. Bitcoin broke below the 200 week EMA and confirmed but now is trying to break above. On my charts dating back to 2018, the weekly hasn’t closed above the 200 weekly EMA then invalidated that breakout. It has tested the breakout though. That’s why the weekly close will be important for technical momentum traders. Not out of the woods yet but some positives starting to show themselves.
Share
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.