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What Will Do Bitcoin On Monday?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin ( BTCUSD ) peaked at $10,074 on the 7-May and prices are now trading near the $9000-$9300 price range.
Bitcoin is no longer trading near resistance, now it is going towards support.

I saw some signals out of the charts and technicals that are really strong and pointing to a drop .

Mondays can be bloody for Bitcoin so please be cautious.

The potential targets for this drop start at the $8600-$8500 levels which can quickly move lower on strong volume .

Looking at the low volume this weekend prompts me to prepare some more.

Remember that there can be the fake/sudden move to the contrary side to shake a few positions up, but once that is over Bitcoin can start to drop .

Conditions for change
For BTCUSD to go bullish in our view on this setup, prices need to move and close first above the EMA10/Green line ($9330.68).

As long as Bitcoin remains trading below this level, we stay open to seeing prices drop anytime.

Namaste.
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