Bitcoin Faces EMA50 Once More, $8000+ Next?

Apr 18, 2020

Bitcoin (BTCUSD) is facing resistance at EMA50 once more and this time prices are moving above this level.

As we mentioned in our most recent article, EMA50 ($7164) is a strong resistance on the daily timeframe, moving above it can easily send Bitcoin's prices going higher:

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This is an easy setup here, we are looking for a daily close above EMA50 and we can see prices going higher, easily hitting $7600 or $8000+ next.

Conditions for change
If momentum is lost and prices drop below EMA50, the above signals become invalid.

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Namaste.