alanmasters

Bitcoin | 4H Timeframe With Targets/Support Levels

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Thanks a lot for the overwhelming support on these short-term analyses...
Let's now look at the potential targets/support levels for Bitcoin if prices continue to drop.

We've already established and the market confirmed a bearish bias below MA200 and our classic EMAs; EMA10/50/100/200.
We remain bearish below these levels.


We also have a descending trendline holding prices down.

As long as prices remain below, we stay bearish .

(NOTE) If prices move and close above MA200 ($9283), these signals become invalid and the bullish scenario becomes possible.


Now, where will prices find support on the next drop?

Here we have the Fib. levels:
  • 1) $9139
  • 2) $9041
  • 3) $8918
  • 4) $8781

These are short-term targets.
If a 'real drop' starts to take shape, they can be all taken out in a flash.

If Bitcoin continues sideways bearish , these levels can be tested little by little.

This is not financial advice and remember to have your own plan/strategy if you decide to trade.

The charts are always changing, so it is wise to plan ahead.

Thanks a lot for your continued support.

This is Alan Masters.

Namaste.
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