Bitcoin Starts To Retrace | How Low Can It Go?

Feb 8, 2020

Bitcoin (BTCUSD) is starting to retrace based on the 4H timeframe chart... Let's take a look...

But wait, before we go there, here is our full Bitcoin (XBTUSD) SHORT trade:

Now, for Bitcoin (BTCUSD), prices are now moving below EMA10, which would switch our potential from bullish to bearish if the current candle closes below this level. EMA10 is sitting right now at $9722.4.

• We have bearish divergence with the MACD and RSI.
  
• And we also have trading volume going lower while the MACD is showing a bearish cross.
  

So we have multiple signals pointing to a drop.

Do you agree with this analysis?

Make sure to hit LIKE before leaving a comment!

Thanks a lot for reading.

Namaste.

Feb 8, 2020

Note

Cocos-BCX vs Bitcoin Goes Bullish | Chart Signals +Targets |200%

Dogecoin Is Done Preparing, Up To 600% Possible

Bitcoin Diamond Resumes, Great Momentum Building Up

Ethereum 93% Parabolic Growth | Going to $250 Or $200?

Can Bitcoin SV Continue Growing After 474%?

Origin Protocol (OGN) Fully Mapped | New Binance Add (118%)

Polymath Enters Decision Point, 40% Jump Next?

NKN Volume Breakout | Bulls Ready To Go (111%+)