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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.

Have anything to say?
Do you think Bitcoin will start to drop?
Do you think it will go higher?
Do you agree with this analysis?

Share with us in the comments section below...
Your time, energy and support are always highly appreciated.

Namaste.
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Comments

Thanks for sharing Master, as always.

You will likely save a lot of people a lot of money, and they will forever be thankful.

I sold 97% of my portfolio like 48 hours ago.

Because I knew btc was entering a Massive Ressistance Zone between 10.000 and 13.000 usd.

You can draw a line from the 20k high to the 14k high and Bitcoin would hit it around 11.000 - 13.000 usd.

Then you got the historical volatility indicator that Crypto Krown have been talking about for 14 days now. On BTC, it said a big move was coming. But it can not tell if it is down or up. It is right like 100% right scaringly enough. I wonder how that indicator works, what data it uses. It is public.

The 14.000 high from 2019 in itself is a strong barrier most likely.

The magical number 10.000 usd also in itself.
+2 Reply
alanmasters Confucius-The-Great
@Confucius-The-Great, Thanks for sharing.

How far low you think it can go?
Reply
Confucius-The-Great Confucius-The-Great
@Confucius-The-Great, My only mistakes up to this was #1 Not watching todays and yesterday's episodes of Crypto krowns daylie update. And not watching the RSI, Stoch indicators the last few days. I was so bussy learning to trade on bitmex and invent a genius strategy hahaha. I love margin trading already. The perfect money-making game where you have to beat the whales to make money basically. The Wall Street Professionals.
Reply
Confucius-The-Great Confucius-The-Great
@Confucius-The-Great, I wrote that comment to say I lost 50 usd on those 2 silly mistakes. But that was not correct. I was trading pennies as entertainment and training. So I did not get punished for those 2 mistakes in the end. And I hope nobody else lost more than 50 usd either. I told an irl friend like 3 days ago. He ofc did not listen.
Reply
alanmasters Confucius-The-Great
@Confucius-The-Great, I lost so much... Now I tell everybody to avoid BitMEX, start really small or to know that there is a price to pay to learn to use the system. I learned the hard way.
Reply
@alanmasters, Oh Master. I'm sorry you was one of the unlucky ones to get burned hard learning to use bitmex :S

I know exactly what you talk about.

I only trade with 100 usd on bitmex for now.

1# I am not confident enough to set more on stake haha.
2# I know I will have to lose money to learn no matter how much I study the subject on beforehand. As you say, BitMex in it self is a beast to learn to master. I have done several beginner mistakes using the platform haha. But I got lucky every time. Only think I have lost like 20% = 20 usd on beginner mistakes.

Like hitting LONG instead of SHORT lol!
Not knowing changing leverage on a new trade also changes leverage on your current positions...

I got a few questions I have not found an answer to yet. I will ask you a day in the future Master.

Thanks for sharing your experience.
Reply
alanmasters Confucius-The-Great
@Confucius-The-Great, "I only trade with 100 usd on bitmex for now."
Reply
alanmasters Confucius-The-Great
@Confucius-The-Great, This one is important too... I should write a post about BitMEX for beginners.

"Not knowing changing leverage on a new trade also changes leverage on your current positions..."
Reply
@alanmasters, I just today checked on the member's section of your website if you had written such a BitMex guide. And yeah, you had not :)

But it is so much needed.

The most important is exactly all the mistakes you can do.

Like all those who got liquidated a week ago trading the XRP/USD pair on BitMex. Oh boy, they got owned. Not knowing everybody's stop loss and liquidating prices would be ontop of each other. Easy profit for a whale. Expensive lesson to be learned.

Please make a "BitMex top beginner mistakes to avoid" Master.
Reply
alanmasters Confucius-The-Great
@Confucius-The-Great, What's your target for the retrace?
Reply
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