BITCOIN: CANDLES SPEAK: 07.04.2021

As I projected yesterday, BTC has broken through the 20 EMA line. At the same time, it is closed today below the lower boundary of the long term upward channel. This is the second attempt since March 25. On March 26 it was stick saved and we will have to see whether something similar happens tomorrow.

The next two events to watch: a bearish 8/20 EMA cross and the coin’s behavior around the 50 MA area – 54300-54400. If the 50 MA support is broken, the 48000-38000 target becomes very realistic.

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