$DAO
Cooling DownSnapshot Window: 2026-07-22 16:20 UTC · ← Back to Crypto Overview
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#Bitcoin breaks out! $BTC [Spoken audio]: Bitcoin has broken out finally of its 50 day EMA resistance. I've been talking about this for quite a while. You could see multiple attempts over the last week or so to break through the 50 50 day EMA, the orange line here. And I called for that. I did show a little bit of hesitancy just thinking that maybe we needed a little bit more chop there, but nope, it's time we broke through. And so now the question is where do we go? And I've talked about in other videos, the real test for this, whatever you want to call it, an uptrend, an upswing. The real test for that is going to be the 100 day EMA but then for the previous all time high, the 2021 peak at $69,000. We also have to just be a little bit concerned that this wouldn't be a swing pattern failure here. You can see on June 15 or June yeah, June 15 we got up to about $67,000. So I'd hate to see a wick above that and then a dump below. Let's I do believe very much so that we're going to make our way up to the 100 day EMA at about 68,000 and have a solid wick above that get up to that 2021 all time high level. And then I'm just going to say this, I do have a decent amount of conviction with this that is going to be a rejection. Now, what kind of a rejection is going to be is the question, will that be the rejection that then sends us off to new lows? Because I know a lot of people are still have that mindset. Yes, we're going down to new lows, going down to the forties, all of that, or will that just be a rejection and then we'll form a higher low here? In my opinion, it's going to be a rejection and then we're going to form a higher low, but one where people would call with a lot of confidence for lower prices and we'll just never get those lower prices. So it could be a very clean rejection off the one or day EMA and then a move down to the 50 day EMA with a wick below that, maybe bouncing off the 20 day EMA. That is my perspective as to where we We are going short term, but we'll see. Like I said, that is the real test. I will see you at $68,000, $69,000, and then we'll see where we go from there. I'll see you in another video.
