Bitcoin technical analysis video, EMA20 on the daily as ( temporary?) support
Welcome to our latest Bitcoin technical analysis! We delve into the daily timeframe, examining the recent movements and potential future directions of Bitcoin.
🔍 Today’s bitcoin technical analysis highlights:
- Observation of the past two daily candles and their proximity to the crucial 20 EMA, a significant indicator for algo firms and professional traders.
- A potential downward movement was noticed, followed by a rebound over the 20 EMA, signaling a potential temporary bounce.
- Discussion on key price levels to watch, specifically around the $68,400 and $69,250 to $70,000 range, within a notable trend line zone after a double bottom pattern, suggesting a possible breakout.
📈 What’s Next for Bitcoin?
- Bitcon probably going to 69k next. We’re closely monitoring these developments for signs of a temporary bounce. However, trading involves risks, and we advise trading at your own risk.
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📊 Disclaimer:
This analysis is for informational purposes only. Itai Levitan and ForexLive.com are not providing financial, investment, or trading advice. Always conduct your own research before making any investment decisions.
💬 Join the Discussion:
Have thoughts on where Bitcoin is headed? Share your predictions and questions in the comments below! Let’s dive into the analysis and explore the potential scenarios together.
This article was written by Itai Levitan at www.forexlive.com. Source