AlanSantana

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.

Namaste.

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