Yesterday, the price was at 81,944. Today, even the nearest moving average is above us. $BTC dropped to a low of 75,208 overnight and is currently around 76,018. On the 1-hour chart, all three moving averages are above: EMA20: 77,239 EMA50: 78,056 EMA200: 78,546 A rebound does not equal a reversal. First, watch if the price can reclaim the most recent moving average; then see if it can hold support on a retest. We haven’t even cleared the first hurdle—don’t rush to call this a successful bottom fishing. The current price is still 1,221 USD below the 1-hour EMA20.
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