Denis Joeli Fatiaki
Independent Analyst
What happened in the last twelve hours.
BTC/USD price continues to bounce at 7440.72 support price level in the four hours price chart as it attempts to break and hold above its 500 EMA line.
What is going on now.
The current four hours price candle trades at 7658.24 just above its 500 EMA line and looking strong with supporting volume. It might continue to the upside if it makes it into the price channel.
My thoughts on what may happen.
BTC/USD still needs to maintain trading activities above 7440.72, and it's 500 EMA line as indicated in yesterday's update to make a change to the direction of the trend.
If it fails to hold above 7440.72, then there is a possibility that prices could fall to around 7126.40 to 6798.96
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