AlanSantana

Where To Next BTC? | MA200 Conquered, Volume Starting To Show UP

Long
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
We have been tracking Bitcoin ( XBTUSD ) closely basically on all timeframes and considering multiple scenarios... Here we are looking at it again short-term, 4H (4 hours) per candle.

We put our focus on MA200 (black line) because it is a strong indicator for Bitcoin on this time frame. You can see all of the details about it here:
  • Now, this level has been conquered and even though we still have low volume , it is starting to grow.
  • We can easily notice that Bitcoin is trading above EMA10 ( bullish ) as well as MA200. The MACD is also bullish .

The bulls have the upper hand as long as we remain trading above these levels. If XBTUSD moves below these two, then we switch our short-term view from bullish to bearish ... Right now we stay with the bulls.

Namaste.

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