- First we see over 12 failed attempts to break above EMA100, which is the blue line. But BTCUSD would always produce a higher low at each attempt.
- It finally broke above EMA100 and remained below it. There was an attempt to push the price down unsuccessfully and BTCUSD moved to close above $8075 with good strength and . With this move, we can expect additional action.
- Both the and are on the zone which gives further strength to this setup.
- If BTCUSD can remain trading above EMA100, it is very like that it will go higher and reach $8750 or up to $9000+... Certain conditions must be met just as it can move back down.
Thanks a lot for reading.
THIS IS NOT FINANCIAL ADVICE.