Bitcoin taps the D1 20 EMA and must hold for uptrend to continue

28 ต.ค. 2021

Bitcoin touches the Daily 20 Exponential Moving Average and must hold it for the uptrend to have any shot at 75K USD.

For those who don't know, Bitcoin plays a special relationship with this short-term EMA.

Whenever BTC/USD closes above the D1 20 EMA and flips it into support, a bullish reversal begins and turns into an uptrend so long as the slope holds price above.

Conversely, whenever BTC/USD closes below the D1 20 EMA and flips it into resistance, a bearish reversal begins and turns into a downtrend if price can not close back above the negative slope.

As it stands, we are holding 58-59K as support which is exactly where the D1 20EMA lies, thus, re-claiming 60K as support would be considered bullish and closing below 58K is bearish,

RESISTANCE ZONES
1st Resistance: 60K USD
2nd Resistance: 75K USD

SUPPORT ZONES
1st Support: 58K USD
2nd Support: 53K USD.

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