BITF just made a significant early move, and we're seeing some interesting action at the $2.64-$2.65 zone where the 20-period EMA and 20-period SMA are converging. This confluence of moving averages is acting as a resistance level at the moment. The real question now is whether the bulls can sustain momentum and push through these levels by the close today. If they do, it could signal real strength in the price action. Worth watching to see how this plays out and whether buyers have enough conviction to break above.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
7 Likes
Reward
7
6
Repost
Share
Comment
0/400
PermabullPete
· 01-02 20:59
It's the same old trick again, expecting EMA and SMA convergence to break through? I don't think so, haha.
View OriginalReply0
GateUser-26d7f434
· 01-02 20:58
Watching BITF repeatedly at this level, it feels a bit stuck. Whether it can truly break through remains a question.
View OriginalReply0
rugged_again
· 01-02 20:56
Is it this analysis again, that EMA and SMA convergence can break through? I don't believe you.
View OriginalReply0
CexIsBad
· 01-02 20:52
Let's see if this breakout can hold steady, or else it'll plunge again.
View OriginalReply0
FUD_Vaccinated
· 01-02 20:47
It looks like the usual "consolidation will lead to a breakout" script... I bet it won't break 2.65 today at all.
View OriginalReply0
FloorSweeper
· 01-02 20:37
ngl, another moving average crossover "signal"... pretty sure i've seen this movie before. paper hands gonna panic at 2.65 lmao
BITF just made a significant early move, and we're seeing some interesting action at the $2.64-$2.65 zone where the 20-period EMA and 20-period SMA are converging. This confluence of moving averages is acting as a resistance level at the moment. The real question now is whether the bulls can sustain momentum and push through these levels by the close today. If they do, it could signal real strength in the price action. Worth watching to see how this plays out and whether buyers have enough conviction to break above.