$BTC L'EMA at 20 days becomes a key support level to sustain the recovery of Bitcoin above $92,000.
A closer examination of the 4-hour chart shows that today's progress has not been supported by an increase in volumes. On the contrary, the chart reflects a decline in volume participation and a long-to-short ratio that has remained sideways rather than increasing. These conditions introduce the risk of a short-term pullback, as buyers do not confirm the movement with stronger participation. The level of the EMA is therefore an important threshold for maintaining the current recovery.
The crossing of the EMA 20 above the EMA 50 on the 4-hour chart provides additional technical context. The crossover occurred around $89,500, near the 90,000 region. This crossover is interpreted as a golden cross indicating a trend change from bearish to bullish. The proximity of the crossover to the 90,000 area presents this area as a short-term support that could attract a rebound if the price retracts from current highs.
The daily RSI of Bitcoin is about to enter bullish territory. This change depends on the continuation of today's intraday gains. A successful change would provide additional confirmation of the ongoing recovery. If this change does not occur, the RSI will remain at equilibrium, signaling indecision among traders and increasing the likelihood of a pullback driven by stronger selling pressure.
