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

29 Des 2019

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.