Is Bitcoin Going Back To $28,000? Short-Term (1H Timeframe)

٢٩ ديسمبر ٢٠٢٠

Wait... Don't get too comfortable... Remember that one?

Retraces and corrections have been non-existent for Bitcoin... Or better yet, short-lived.

We are seeing strong consolidation take place near resistance.

When prices are going to drop, they drop.
Staying near resistance is a signal of strength.

Based on this chart, BTCUSD 1H, we are likely to see higher prices soon.

Conditions for change
If Bitcoin moves and closes below EMA50 ($26696) the short-term bullish bias is lost and this analysis can be considered invalid.

We do not trade here.
We focus on the altcoins.

Thanks a lot for your AMAZING SUPPORT!
I am always deeply grateful.

Namaste.