AlanSantana

Bitcoin Aiming Lower | $10,000 Will Break | Where To Next?

GEMINI:BTCUSD   Bitcoin / U.S. Dollar
Here we have the BTCUSD ( Bitcoin ) chart, where some bearish signals are starting to develop.

First, Bitcoin ( BTCUSD ) started to move up breaking resistance after resistance until it reached $10,517.20.

After hitting ~$10,500, multiple bearish signals started to develop.

  • We have a high volume bearish candle printed 13-Feb., signaling that a drop is coming.
  • Now prices are testing EMA10 ($10031) while the indicators are trending down.
  • The RSI and MACD are both curving down.

Since Bitcoin started to move up, it only retraced as far back as EMA10... On this drop, we are very likely to test EMA50, at the least... Based on past history, these levels are always tested as support once they have been conquered.

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