Bitcoin Quick Look – Are we there yet? [simple TA]

As I mentioned in my previous post, the Weekly 89EMA gave us a good bounce. As of now, it seems Bitcoin is gone through the low-6400s mark, which was where most of the post Tether-pump consolidation took place. I didn't mark the area as an important resistance last time, as I didn't see it as relevant enough on the daily time-frame, and it looks like indeed it wasn't.

What is important to keep an eye on though, is the now-famous $6800 resistance point. That's where I would open a near-term short with both hands, expecting to get rejected yet again, with a juicy Risk : Reward to it.

However, $6800 is still a way off, so for now I'm just going to keep an eye on the green dotted line ($6607, which proved somewhat relevant as a key level to close above) in conjunction with the Daily 89EMA, which drove us down ever since $7400.

If I'll see a reversal candle at $6600, I'll seriously consider a retrace as likely and imminent to happen, potentially all the way back to $6200.

Nothing too crazy for Bitcoin, just some small-time, small-term, small-relevance swings. The BIG Move has yet to come.