#BITCOIN – Daily Analysis – 10.06.2021 $BTC #BTC #investing #charts #trading #seekingalpha

$BTC closed above 8 EMA for two days in a row! Last time it happened on May 9. As I mentioned in yesterday’s analysis, BTC could move horizontally for 1-2 days and keeping the price above 8 EMA was an important factor.

Daily
The daily candle formed an undecisive candle that is between the 8 and 20 EMA lines. It could flip in any direction, however, the bullish odds are a tad higher now.
Odds: Cautiously Bullish

Forecast

$BTC has a good chance to continue the rally. Based on the minor waves, the coin could take one more dive to 34000-35000 area before starting a real rally. If the candle tomorrow closes above the 8 EMA line (~36000), the bullish odds will increase even more.

If $BTC plays tomorrow as projected, the daily and weekly candles on Saturday would tell the whole story.
If $BTC makes a red candle below 36000, the chances of going lower would increase.

Note that after the yesterday’s low the triangle/pennant pattern was likely invalidated.

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