Bitcoin Preparing To Go Lower (XBTUSD), $8000 or $7400?
Bitcoin peaked and is retracing now. We can see that EMA50 ($8594) is working as support.
If this level breaks, we are likely to see Bitcoin move lower and hit the $8276 - $8128 price range.
We have both indicators trending down as well as a strong signal on the yesterday, pointing to lower prices, see more here:
Conditions for change
For us to see Bitcoin move higher, prices first need to challenge and conquer EMA10 ($8767), followed by the last high at $9190... Where prices go next would depend on how these levels are handled.
Right now we are looking .
Where do you think Bitcoin is headed next?
Thanks for reading.