BitcoinLong
BTCUSD - Bitcoin up to 200 EMA on 4 Hour Chart
BTCUSDEntry: $7,300
Target: $8,200 - This is the level of the longer term downward trend line and potentially the 200 EMA
Stop Loss: $6,900
Chart: 4 hour BTCUSD
RSI: Showing bullish divergence and an ascending triangle. The RSI has broken above ascending triangle and moved into bullish zone (40+).
EMA: The 8, 13 and 21 EMAs on the 4 hour chart have turned up and appear destined to cross the 55 EMA which would be bullish short term. I did not wait for confirmation of the 8,13 and 21 EMA's to cross the 55. However on the one hour chart (not pictured) they have crossed, thus showing short term strength that will spill into 4 hour chart.
Trend lines: Price has broken above the yellow downward trend line on the 4 hour chart.
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