We have a bearish inside bar for BTCUSD (Bitcoin) with bearish indicators... Prices can continue to drop.
If Bitcoin fails to move back above EMA10 ($9811.3), prices are likely to move lower.
The first support we look for is sitting at $9167 or EMA50. Followed by $8864 or MA200.
Additional levels are marked on the chart.
Conditions for change If Bitcoin reverses and closes above EMA10, resistance can be found in the $9,900 - $10,000 price range, followed by $10,300-10,500... These levels need to be broken for Bitcoin to hit new highs.
Thanks a lot for reading.
Namaste.
--- Gold (XAUUSD) Continues Super Bullish | $2,222 Next?
informative chart
we have a bearish flag near the support trendline of descending channel
UnknownUnicorn6047038
⋅
it's the good idea) price is on critical support zone
Pro_Trader_HTBB
⋅
If you going short at this price where it is consolidating at major resistance levels best of luck!
Kiss the bull run goodbye if Alan's prayers are answered. Good thing though if his dream comes to fruition is you can rebuy BTC at 6k again and we will be back in full bear mode all over again where 10k will be just a wet dream.
In a bull market, the price usually tests the 4hour MA 200, which it is doing now. If it goes below this, with the amount of longs to shorts at a ratio of 4 to 1, what do you think will happen to the longs? If you think they will just sit on their hands and do nothing, think again. Of course if BTC drops below all the bull run resistance levels, traders that have a clue will dump their longs in a heartbeat. 6k here we come!
The more probable scenario is to hold the levels sustained during a bull run, if not, as shown in my chart below, you can see what happens to the price.
AlanSantana
⋅
@HowToBuyBitcoindotnetdotau, We have a strong bearish candle on the 19-feb.
AlanSantana
⋅
@HowToBuyBitcoindotnetdotau, Volume was also highest on the drop...
Pro_Trader_HTBB
⋅
@alanmasters, I disagree. Green down arrow shows a different candle to what you suggest. Red down arrow shows volume for the 19th.
AlanSantana
⋅
@HowToBuyBitcoindotnetdotau, Prices are dropping.
$1,000 in a day.
We just wait and see.
I am just reading the chart as I always do.
Namaste.
AlanSantana
⋅
@HowToBuyBitcoindotnetdotau, You are looking at Binance BTCUSDT.
we have a bearish flag near the support trendline of descending channel