Bitcoin Continues With Mixed Signals

5 thg 4, 2020

We are still getting mixed signals from Bitcoin ( BTCUSD ), lots of uncertainty right now surrounding the cryptocurrency and global markets.

On the chart above, we can notice that the trading volume is really low, making sudden/surprise moves even more probable than before.

Even though Bitcoin is bouncing, trading above EMA10 and slowly creeping up, the market sentiment is extremely bearish, so prices are likely to go up.

Remember that these markets tend to move against the masses or popular believe.
This is not a signal that can be used to trade, but it can help support your bias.

• If Bitcoin manages to conquer EMA50, we can look at the magenta dashed lines as our main targets.
  
• On a drop and close below EMA10, the orange and blue dashed lines are for support.
  
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    Feel free to shit like to show your support.
    
    Namaste.