🔍 BTC - RANGES + IMPORTANT EMA

BTC is moving in two ranges since the big drop on August 19. Within the ranges, there are other  support and resistance lines that are important as well (red dotted) when you look at the closing prices. For example: we didn't get a close above the red dotted resistance line in the range after we came dropped into range 2 form range 1.

Right now we are at the red support line of range 2, so we could see a bounce from there or, if we close below it, it could be a first sign that we're going lower.

The play is simple: 

a. If get a 4hr close below the white horizontal of range 2 = short

b. If we get a 4hr close above the blue horizontal = long

c. If you think bounce, you could also try a long at the white or red horizontal of range 2, with stop below the white horizontal

Also watch the 55 EMA here. It seems to be a critical resistance line for BTC and also all the alts. Alts that broke the 55 EMA on the 4hr rallied, the others were rejected hard by it just like BTC.