BTC pulling back after test of resistance
BTC just hit 11200-11400 on pretty much all exchanges, and had strong selling pressure as expected. It is healthy for Bitcoin to pull back and find support anywhere above 10000, but if that area breaks then there will be another discussion...
The 4H yellow 21EMA is coming in right around 10000, so that area is crucial.
BTC needed to cool off and let all the oscillators reset as they were all extremely overbought.
Overall: BTC is cooling off for the moment, but will most likely test 11500 in the next run.
The 4H yellow 21EMA is coming in right around 10000, so that area is crucial.
BTC needed to cool off and let all the oscillators reset as they were all extremely overbought.
Overall: BTC is cooling off for the moment, but will most likely test 11500 in the next run.
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