Bitcoin closes above 20 day EMA hopefully breaks $31000

BTCUSDT

Bitcoin formed a doji candlestick pattern on April 26, indicating indecision among traders. However, the uncertainty was resolved to the upside on April 27 when the price closed above the 20-day EMA. The BTC/USDT pair will now try to challenge the overhead resistance zone between 31,000 and 32,400.

On the other hand, a break below the 20-day EMA could signal that traders are selling on rallies, causing the pair to retest the strong support at the 50-day SMA and possibly decline further to 25,250.

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