Bitcoin once more flirts with USD 35K, a critical price zone that lies below the D1 20 EMA (GREEN)

While BTC/USD trades below this EMA, the bears assume absolute control and hold both hands on the steering wheel until flipped otherwise. 

Mapped below is the D1 BTC/USD chart concerning this 20 EMA (GREEN), which is currently acting as resistance. 

Bitcoin, BTC/USD - Daily (D1) 

Needless to say, bulls require a daily candle close above USD 36K to maintain momentum and cannot afford to let the ball slip at this crucial time. 

Bitcoin Dominance (BTC.D) has also cooled off and allowed Ethereum to follow the lead of BTC/USD. 

Similarly, you can see the ETH/USD pair test the D1 20 EMA (GREEN) at USD 2175. 

Bitcoin Dominance, BTC.D - Daily (D1)

Ethereum, ETH/USD - Daily (D1)

Q's Conclusion

There is no need to risk capital unnecessarily - allow Bitcoin to lead the way and do the work for you. 

Indications of a thorough bullish re-test will not manifest until we see explicit confirmation of BTC/USD flipping its D1 20 EMA into support.

The market will answer our questions surrounding the next move soon. 

Remember - patience pays…

See you again for the next update.

- q

Leave a comment

Follow us for more detailed analysis on all markets, including Decentralised technology. Check out the links below

Subscribe to our newsletter, with daily content free for a limited time only:

https://research.qluster.co/

Join our Facebook group and speak with likeminded traders:

https://www.facebook.com/groups/156981244915722

Like our Facebook page for future updates:

https://www.facebook.com/qlusterco

Follow us on LinkedIn for future updates:

https://www.linkedin.com/company/qluster-co/?viewAsMember=true

Keep up with us on Twitter:

https://twitter.com/QlusterC

Share Qluster Research

The information on this website is for general information purposes only. It is not intended as legal, financial and/or investment advice and should not be construed and/or relied on as such. Before making any commitment of a legal and/or financial nature you should seek advice from a qualified and registered legal practitioner and/or financial and/or investment adviser. No material contained within this website should be construed or relied upon as providing recommendations in relation to any legal and/or financial product. Qluster does not recommend and/or endorse products and does not receive remuneration based upon investment and/or other decisions