$BTCDOM From provided on the 12-hour timeframe, several key points can be used to analyze BTC.D (BTCDOM) price movement:
1. EMA 7, 25, and 99:
EMA 7 (yellow) is currently moving upward and sits above the current price.
EMA 25 (purple) and EMA 99 (blue) are still relatively flat or slightly downward.
This indicates short-term bullish momentum, but the long-term trend remains bearish.
2. Resistance Level:
The price previously reached 3.050 and then pulled back.
This level could act as strong resistance if the price approaches it again.
3. Nearest Support:
Strong support is around 2.651.6, where the price previously rebounded.
4. Price Action:
There is a visible higher low pattern following the last bounce at 2.651.6.
If this pattern continues, the price could move upward to test the resistance.
Prediction:
Bullish if the price can break through the nearest resistance around 2.860-2.900 with increasing volume.
Bearish if the price fails to break the resistance and pulls back to 2.651.6 or lower.
At the moment, bullish potential is more dominant in the short term if strong momentum forms. However, if a breakout fails, a correction to the downside could occur. Keep an eye on EMA and volume for further confirmation of the movement.
