We are of the same view here with Bitcoin (XBTUSD) printing a lower high and now closing below EMA10... Prices can drop lower.
The immediate support is sitting at $9333 or EMA50, this is the next level to look at if Bitcoin moves lower.
Followed by $9174 or MA200.
Additional support levels are marked with blue dashed lines.
The immediate resistance is now at...
Bitcoin (BTCUSD) peaked at $10,074 on the 7-May and prices are now trading near the $9000-$9300 price range.
Bitcoin is no longer trading near resistance, now it is going towards support.
I saw some signals out of the charts and technicals that are really strong and pointing to a drop.
Mondays can be bloody for Bitcoin so please be cautious.
This Trading Strategy is for BTCUSD which is traded on BITSTAMP exchange. The aim of this strategy is to ride the market with its ebbs and flows.
Link for the strategy:
The strategy works best on 1 Hour timeframe. The results may very different depending upon time-frame and date range...
Currently BitCoin has started to show up Signs that it might crash back to $1150 very soon. Their are couple of patterns in charts that i look for which are probably best for reversal indication and they are forming up in higher time frame charts of bitcoin. but there is more..
1- BitCoin Has recently broken above a long term curve at 1500, but there is very less...