We finally have some lift off! BTC has had a slow march upwards since the New Year and finally we saw the big push with increased volume come in today around $7600 which gave enough momentum to push through the zone I've had outlined for last few months. We hit $8,000 and have seen a small pullback here. Nothing significant and just cooling off. Would love to see bulls keep price above the top of the resistance zone which currently would coincide roughly with the 4 hour 12 EMA.
In my opinion, bulls really need to hold this rally and keep above EMAs and now stay above the resistance zone. As another fall back towards low $7,000's may cause many to start throwing in the towel and waiting for much lower prices. RSI on hourly and 4 hour are overbought and daily is approaching. Hopefully bulls can allow for brief cool offs and just stair step their way up and ideally avoid the elevator down the bears have been known to provide to price.
Just My 2 Sats!
In my opinion, bulls really need to hold this rally and keep above EMAs and now stay above the resistance zone. As another fall back towards low $7,000's may cause many to start throwing in the towel and waiting for much lower prices. RSI on hourly and 4 hour are overbought and daily is approaching. Hopefully bulls can allow for brief cool offs and just stair step their way up and ideally avoid the elevator down the bears have been known to provide to price.
Just My 2 Sats!
