The BTC course continues to rise after yesterday's reversal signals.
And although locally all this growth is in the format of a 'Bearish Wedge' - important signals of buyer strength continue to appear:
- The current four-hour candle has broken the 50 EMA of the four-hour timeframe. There is a shift to an upward candle structure. There are still more than 3 hours until the current candle closes, and it is important to see a close above this moving average. Otherwise, it will be the fourth failed breakout attempt. So far, the price has retested the volume level of $98,433 after the breakout and has pulled back to the EMA.
- The price has transitioned into a stable uptrend on the 30-minute timeframe, with yet-to-be-fulfilled base targets: $98,829, $99,421. And there are many more additional targets, as seen in the separate screenshot. The trend remains globally upward, despite the correction.
In short, everything depends again on the 50 EMA of the four-hour timeframe.
A number of altcoins have perked up on this movement. But if there is no consolidation above the 50 EMA of the four-hour timeframe for #BTC, it will return to the range of $94,166 - $97,553. In which altcoins may again show more significant declines, including a renewal of the low from December 9 for a number of them.
