# BTC MOON SOON

**Published by:** [Litecoin](https://paragraph.com/@litecoin-2/)
**Published on:** 2023-08-03
**URL:** https://paragraph.com/@litecoin-2/btc-moon-soon

## Content

This morning, BTC was down 0.02% to $29,255. A range-bound start to the day saw BTC rise to an early high of $29,298 before easing back. Looking at the 14-Daily RSI, the 43.67 reading reflects bearish sentiment. The RSI aligns with the 50-day EMA, supporting a return to sub-$28,500. However, a move through the 50-day EMA ($29,445) would give the bulls a run at the $30,750 – $31,250 resistance band. Looking at the 4-Hourly Chart, BTC remains below the $30,750 – $31,250 resistance band. BTC sits below the 50-day ($29,449) and 200-day ($29,647) EMAs, sending bearish near and longer-term price signals. Significantly, the 50-day EMA pulled back from the 200-day EMA, supporting further losses. However, a BTC move through the 50-day ($29,449) and 200-day ($29,647) EMAs would give the bulls a run at the $30,750 – $31,250 resistance band.

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