BTC Update! 12 EMA serving as resistance!
Jumping off last chart we were watching to see if bulls could make their break up after they bought the dip down for a near double bottom at $7427 and then $7450. Bulls pushed up just above $8100 only to be rejected by the daily 12 EMA. As stated last chart, what was once strong support often then becomes resistance. Bulls are still doing well here as the rejection from 12 EMA has not been all that significant but would like to see a strong push above it in the next day or two. If bears start pushing price further down then bulls will really need to rally and hold support in the $7400's. If bears keep pounding on that support level, I will expect it to eventually cave. So key support down at $7450 area and key resistance in the $8100's/anywhere the 12 EMA ends up lining up on daily (this will continue to drop lower if we continue to get stuck underneath it).
Just My 2 Sats!
Just My 2 Sats!
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