AlanSantana

Bitcoin Aims At $8,888, How Long Before The Drop?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin's retrace still hasn't taken its full form, it is a process still in the making (developing...).

After what appeared to be a bullish signal when prices moved and closed above EMA10, a rejection quickly followed yesterday and now prices are back below this level.
  • EMA10 is now sitting at $9761.8.
  • We continue to see lower highs being printed and really low volume .
  • If volume remains low, you can expect the "drop" or retrace to be slow and not so strong... But if volume starts to come in, we will see a big drop towards EMA100/MA200, sitting in the $8821.8 to $8900 price range.
  • Unless prices for BTCUSD move back above EMA10, we remain bearish , open for change, and expecting for the altcoins (smaller ones) to continue to gain.

Thanks a lot for reading.
This is not financial advice.

Previous analysis | S&P 500 Index Incoming Drop | Heading For 3258

21-Feb. | Bitcoin Continues Lower, $8950 Next? Support & Resistance Mapped

16-Feb. | Bitcoin Weekly | EMA10 Likely To Be Tested At $9000-$9150

16-Feb. | Bitcoin Aims At $9740 Followed by $9250 ( Bearish Signs)

Namaste.
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Gold ( XAUUSD ) Continues Super Bullish | $2,222 Next?
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