AlanSantana

Bitcoin Starts To Retrace | How Low Can It Go?

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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.


So we have multiple signals pointing to a drop.

Do you agree with this analysis?

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Thanks a lot for reading.

Namaste.
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Comments

Hi Alamasters, thanks for the idea
Any update on the situation today ?
cheers
Reply