Trybe TV – Bitcoin Technical Analysis: IS THE BOTTOM IN? – by Workin
Bitcoin was able to break back above the critical $4,000 price point. It’s currently trading around $4,160. We’re seeing an uptick in volume, with buyers stepping in when price pulls back. This is at least a temporary sign of strength.
Looking at the daily chart, we can see price broke above the 8 day EMA. If the daily candle closes above the 8 day EMA, it’ll be another positive sign the bulls are strengthening.
Shorts are stacking, out pacing longs by about 20%. If this gap widens above 30%, we may see a major short squeeze. Conversely, if longs start to out pace shorts, we could see price drop back below $4,000…especially if volume drops.
In today’s video analysis I discuss, where price may be heading next, traps to avoid, key areas to watch and so much more. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing.
Subscribe to Workin’s channel here:
Have you checked out Trybe.one yet?
Subscribe to Trybe TV here https://www.youtube.com/channel/UC2ceaswIsdTicbGBHpxEIDQ
We are looking for established and up and coming YouTubers to contribute to our channel. Submit your articles here https://trybe.social/contact-us/ for consideration.
Drop by our telegram here https://t.me/joinchat/IQ5QKE6dBdfShFIIclhonQRecommend0 recommendationsPublished in