Bitcoin Weekly | EMA10 Likely To Be Tested At $9000-$9150
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BTCUSD ( Bitcoin ) weekly just closed last week on a bearish candle, sending out a reversal signal.
On BitFinex prices peaked at $10,491 after breaking above EMA10 and EMA50. Now that momentum is being lost and a bearish candle has been printed on low volume , these same levels that worked as resistance will now be tested as support.
On the weekly timeframe , Bitcoin ( BTCUSD ) is now aiming at $9090 or EMA10 first.
If EMA10 is broken with good strength and volume , EMA50 at $8261 will follow... Here you can look at it closer on the 4H timeframe: Bitcoin Aims At $9740 Followed by $9250 ( Bearish Signs)
Conditions for change
If BTCUSD moves back up and closes above $10,500, the above signals become invalid and a new analysis is needed.
This is not financial advice.
Namaste.
On BitFinex prices peaked at $10,491 after breaking above EMA10 and EMA50. Now that momentum is being lost and a bearish candle has been printed on low volume , these same levels that worked as resistance will now be tested as support.
On the weekly timeframe , Bitcoin ( BTCUSD ) is now aiming at $9090 or EMA10 first.
If EMA10 is broken with good strength and volume , EMA50 at $8261 will follow... Here you can look at it closer on the 4H timeframe: Bitcoin Aims At $9740 Followed by $9250 ( Bearish Signs)
Conditions for change
If BTCUSD moves back up and closes above $10,500, the above signals become invalid and a new analysis is needed.
This is not financial advice.
Namaste.
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