Bitcoin Weekly Also Points Towards $9000/$9200 AlanMasters

My beloved cryptocurrency enthusiast, supporters, and successful traders... Here we have the Bitcoin Weekly chart.

We looked at the 4H + Daily (D) timeframes earlier, shared below, and we saw the bears moving in and pushing prices lower...
We read the charts perfectly and we hit our targets.

Now, we know that each timeframe is unique and provides us with different signals.

The longer the timeframe, the stronger the signals we get.


Let's look at Bitcoin Weekly and see where prices are headed next.

IN SHORT
Bitcoin (BTCUSD) is now aiming lower at EMA50 or ~$9200.


CHART ANALYSIS
We do have some mixed signals but more bearish than bullish, let's have a look...
Wait, feel free to hit LIKE now, and let's continue!

1) We have a strong bearish candle 31-Aug.

2) A strong MACD bearish cross.

3) The RSI is still solid/strong above 50 but trending down (mixed-signal).

4) Prices trading below EMA10.
If this week BTCUSD closes below $10634 or EMA10, we are extremely likely to see $9200 tested as support.

Conditions for change

Bitcoin needs to settle above the purple trendline for the bullish view to come back on top.
Moving above EMA10 would be the first sign of potential change.

Any trading below EMA10 and we remain bearish while expecting lower prices.

--Previous charts--

Bitcoin Going To $9100, Bounce Up Or Lower? Altcoins?

Bitcoin Support Levels (My 10X Lev. Trade Targets)

Bitcoin Facing Resistance At MA200 (Short-Term) Yes Or No?

Namaste.

Comment:

Bitcoin and Ethereum still going together folks... People fought so much in the past and now they are fully correlated.

Here is the weekly chart for Ethereum (ETHUSD)

Comment:

Check the comments section on the following trade idea for additional information on how the altcoins market will continue to move with Bitcoin...

🅱️ Altcoins Market Update + Bitcoin Update