Bitcoin (BTCUSD-4H) Price Action (9-Jan) Support Holds

On 6th Jan EMA200 (orange line) was broken which prompted much bullish sentiment, you can see that the candle has good volume.

After this break, Bitcoin had to retrace and test EMA200 again as support. We can see that EMA200 was tested and support held.

BTCUSD can now move to challenge EMA300 (gray line). If this resistance can be broken, Bitcoin can continue moving up further.

This is a short term analysis of the BTCUSD chart on the 4H Time Frame.

Thanks a lot for reading.

Namaste.

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Complete breakdown. Expect sideways consolidation before the next move.

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