Bitcoin Preparing To Go Lower (XBTUSD), $8000 or $7400?

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
We are looking at bearish divergence on both the MACD and RSI , while Bitcoin ( XBTUSD ) moved down and close below EMA10.

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 bearish signal on the daily timeframe 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 bearish .

Where do you think Bitcoin is headed next?

Thanks for reading.


✅ FREE Charts, Trades & Results 👉

📲 GET PAID! With UNIQUE Trades 👉
(🔥 Special offer now available)

✔ Crypto 101 Trading Course
✔ Altcoins Trades (BTC & USDT)
✔ High Potential Leveraged Trades

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.