TradingView
AlanSantana
May 25, 2020 11:38 AM

Bitcoin Breaking Below MA200 Is Bad News... 

BITSTAMP:BTCUSD240
Bitcoin / U.S. dollarBitstamp

Description

⋅
Bitcoin (BTCUSD) closing below MA200 is bad news, the next support is sitting at EMA300 or $8536...

If the above level breaks, the next drop can take Bitcoin low to the ~$7600-$7700 price range.

The tendency is down now and Bitcoin is looking bearish, we've been calling a drop since prices peaked a few weeks back.
While Bitcoin takes time out to consolidate its growth, it is time for the altcoins to turn and go.

Namaste.
Trend AnalysisTechnical IndicatorsBeyond Technical AnalysisBitcoin (Cryptocurrency)BTCBTCUSDaltcoinscryptoCryptocurrencybittrexbitfinexalanmasters
Comments
Bluechipinvestments
⋅
Long term it would be a great opportunity to accumulate, would you agree? Do you believe that bitcoin is a Long term Hold? Considering the institutional investments that have become long? i.e. Greyscale?
AlanSantana
⋅
@Bluechipinvestments, Yes of course... 1000% bullish long-term on Bitcoin and Crypto in general.

Namaste.
kimjake63
⋅
Nice analysis
AlanSantana
⋅
@kimjake63, Thanks.
Pure_Energy
⋅
Does this mean that there is no prospect of being a bull? Are we still short?
Please update!
YungLini96
⋅
What do you think about the current movement? Trap? I also feel like it should go down, but its BTC after all...
AlanSantana
⋅
@YungLini96, Too early but not big enough to have any real meaning yet.
rigosbox
⋅
If Bitcoin drops won't this take alt coins along with it?
AlanSantana
⋅
@rigosbox, Bitcoin already dropped from a peak of $10,080 to $8000 and the alts are booming.

So far they continue to grow.
More