Finally Bitcoin was able to close a 4hr candle above the EMA200 (yellow line) The current level of this is $95.8k and so far this looks to be flipping into support. The 4hr resistance now is $96.9k where we have a bearish engulfing candle from last Friday.
Acceptance above this and we can expect a push towards $98k minimum.
Firstly Happy New Year!! The Holiday season continues to be frustrating and boring for Bitcoin. The support and resistance levels remain valid- looking for $92k to hold on any more retests, with a break above $96k (4hr EMA200) the likely first sign of upside continuation.
Notice the strong rejection of the EMA200 yesterday, this really is a key level to flip in this range.
Bitcoin is still trading in a very tight sideways range with no volatility coming at the weekly close/ open. The price is currently chopping around $93.8k (Weekly Open) which gives very little indication of the next move.
This is not surprising considering it is still holiday season, but from here our key levels to watch are a $96k test (current hr EMA200) or a retest of $92.5k (Prev Week Low.) $BTC
Very little change for Bitcoin with a pretty low volume weekend so far. The price is continuing to move in a tight sideways range with the demand zone of $94.9k - $93.8k still being respected.
BTC is trying to flip $95k (Weekly Open) resistance back into support which is the first step towards a reclaim of the 4hr EMA200 (yellow line.) No rush here until either the support or resistance is broken.