Bitcoin, Here Comes The Drop! $8900 Going To be Tested

Bitcoin (BTCUSD) broke and closed below EMA10 ($9278) and is now moving below EMA50 ($9191)... This can tell us that we might be looking at more red.

If we go by the EMAs, the next support is sitting at $8956 or EMA100, the purple line. If this level fails, MA200 at $8473 goes next...

Volume is still low and this move needs time to develop. If the bears fail to gain momentum and prices move back above EMA10 ($9278), we would switch from bearish to bullish... For now, we see Bitcoin going lower.

While Bitcoin goes lower the altcoins (all altcoins minus top10) can start/continue to grow and continue to generate great gains.

Leave a comment with your thoughts.

Namaste.

Comment:

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🅱️ Bitcoin, Here Comes The Drop! $8900 Going To be Tested

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