🚀Bitcoin broke through resistance and is currently consolidating around the 50 EMA on the 4-hour timeframe.
🔄There are two possible scenarios: a bounce from current support or a break below and sweep of previous resistance.
🔝The overall outlook is bullish, with potential for a retest of $43,000.
What is the current price of Bitcoin?
—The current price of Bitcoin can be checked on various cryptocurrency tracking platforms like CoinMarketCap or CoinGecko.
What is the significance of the 50 EMA on the 4-hour timeframe?
—The 50 EMA (Exponential Moving Average) is a commonly used indicator that helps traders identify trends. It can act as a support or resistance level.
What is a 'sweep' in trading?
—A 'sweep' refers to a quick move in price that aims to trigger stop-loss orders or clear out resistance levels.
Is Bitcoin expected to continue its upward movement?
—While there are no guarantees in the market, the current bullish outlook suggests a potential for further upward movement.
What are the key resistance levels to watch for?
—The key resistance levels to watch for are the previous highs around $43,000 and the psychological level of $50,000.
10:00Bitcoin broke through resistance and is currently consolidating around the 50 EMA on the 4-hour timeframe.
13:00There are two possible scenarios: a bounce from current support or a break below and sweep of previous resistance.
14:30The overall outlook is bullish, with potential for a retest of $43,000.
