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Bitcoin Price Outlook Gloomy After EMA 21 Rejection

🔥Daily review and thoughts about the market: December 29🔥

▫️BTC (six hour chart). The technical rebound of Bitcoin was stopped by the exponential moving average EMA 21 6H, the sellers again pushed the price to the 16,500 area✅

The RSI line also fell below the support level📉

As long as the asset is trading under the middle of the horizontal channel and under EMA 21 6H, there is a high probability that the correction will continue after Bitcoin returns to the 16,750 trading level😎

Therefore, at the moment, the scenario with the descent of the asset to the support line in the range of 15,900 - 16,000 remains a priority💪

The opposite scenario can be considered when the price fixes above the lower border of the Ichimoku Cloud, which coincides with the zone of the exponential moving average EMA 21 from the daily timeframe at 17,000🤩


The price of the asset made an attempt to pass the resistance level at 1,215, after which it rolled back again🫤

It is likely to test the buyer's level at 1,155 in the near future

Ethereum has increased its value against Bitcoin by 0.45% in the last 24 hours👍 •

The total value of digital assets fell by 0.6% over the past day, the dominance of BTC decreased by 0.1%📉

While bitcoin has not left the "zone of uncertainty" indicated in yesterday's review, it remains to wait for the BTC impulse before making trading decisions

This post is based on this twitter thread.


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