Bitcoin's Short-Term Retrace Completed (Update)

Jul 23, 2022

The chart is telling us that Bitcoin's short-term retrace after hitting the $24,276 resistance is coming to an end.

• Prices moved below the 0.618 Fib. retracement support; now BTC trades above this level.
  
  
• EMA300 was tested perfectly and holds. The candle ended in a Doji which is a reversal candle at this point.
  
  
• MA200 was also tested and holds as support.
  
  
• As prices move back above EMA21 and EMA10, we see a fresh increase in purchase volume as well as bullish indicators.
  

These signals are telling us that the short-term retrace is ending.

I am wishing you a lovely weekend my friends.

Thanks a lot for the continued support.

Thanks for being part of this great community and this amazing market.

I am wishing you the best.

Namaste.