$BTC is attempting to hold its daily 50EMA… This is a level I’ve been watching closely over the past few weeks, but this level of support is now more important than ever. We can see how price reacted after breaking above the 50EMA back around August 19th, when a MASSIVE surge in volume and buying pressure occurred above that level. Now, we can see that the 50EMA has been acting as very strong resistance over the past week, with price respecting this level quite well so far. But similar to the massive surge in volatility we saw when that level was broken back in August, I’d expect a similar surge in volatility if we were to break below the 50EMA as well. The $80k level, where the 50EMA is currently sitting, is also the strongest short term level of horizontal support that I’ve been posting about for weeks now. So there’s LOTS of confluence pointing towards $80k being an extremely important level for the bulls to hold. If lost, price will very likely dump into at least the mid 70s. Keep a VERY close eye on this level as we head into the weekend!