We just have a short term bullish crossover on 8 & 20 EMA, but the bitcoin is losing power after it hit 50 EMA and the resistance trend line.
As there is still no robust volume to lift up this beast, the price action may close as an bearish engulfing candlestick at the end of the day. In the next few days and any uncertainty will draw the 50 EMA close to 20 EMA. At that time, we may check carefully about a cross.
If this were the case, then the price far most hit the resistance zone between 8850 and 9506.
Please refer my previous analysis to know more about how Ichimoku works on support and resistance.
As there is still no robust volume to lift up this beast, the price action may close as an bearish engulfing candlestick at the end of the day. In the next few days and any uncertainty will draw the 50 EMA close to 20 EMA. At that time, we may check carefully about a cross.
If this were the case, then the price far most hit the resistance zone between 8850 and 9506.
Please refer my previous analysis to know more about how Ichimoku works on support and resistance.
