) has been aiming lower since reaching a top on the 6th
of August. We warned about an imminent retrace and this is now happening... Let's take a look at the chart:
- BTCUSD is now trading below EMA10 ($11,300). In my previous article, we mention that any trading above this level is bullish , but below this level, we go bearish . The daily candle is yet to close, but if BTCUSD closes below EMA100, it is very likely to move lower.
- Our next target is sitting at EMA50 which is now $10,551. This is the level where Bitcoin will find support next if it closes bearish today.
- MACD and RSI are leaning towards the bulls. The RSI is gaining momentum down and signals a strong drop incoming. Here is the chart:
You can see our previous analysis with altcoins market update below... Still valid:
Bitcoin Bearish Short-Term (Aims at $11,000 or Lower) + Altcoins
Bitcoin Looking To Retrace, $10,400 Possible, Full Analysis!
Bitcoin Weekly Update ( Bullish vs Bearish Potential)
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Thanks a lot for reading.