Bitcoin attempts to capture the flag... buy the dip?
Hats off to another trick played out by Bitcoin. Much like July 2021, what we've seen here is a fake-out to the downside, followed by an impulse move past key notable areas.
Currently sitting at the 50-Day EMA, and over the 200EMA on the 4h time frame, Bitcoin is attempting to capture the flag and hold our key zones. Provided we don't see another trick play out, our crypto analyst outlines the best general buy zones to get involved.
Buy zone 1 = 21100/200EMA retest (4h time frame)
Buy zone 2= Retest of 50EMA on 4h time frame (variable)
Resistance 1 = 21880
Resistance 2 = 22670 zone / .618 fib retracement
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Currently sitting at the 50-Day EMA, and over the 200EMA on the 4h time frame, Bitcoin is attempting to capture the flag and hold our key zones. Provided we don't see another trick play out, our crypto analyst outlines the best general buy zones to get involved.
Buy zone 1 = 21100/200EMA retest (4h time frame)
Buy zone 2= Retest of 50EMA on 4h time frame (variable)
Resistance 1 = 21880
Resistance 2 = 22670 zone / .618 fib retracement
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based o n a recommendation, forecast or any information supplied by any third-party."
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