I am slightly bearish on Bitcoin at the moment. But I don't think its FULL bears ahead. a couple things I notice on my TA of the 1hour chart for Bittrex. Keep in mind these levels will very by exchange slightly. 1. The 1 hour candle just fell through the ichimoku cloud (bearish signal) 2. My blue line, just for simplicity sake is my Bull line. My Orange line (Bear Line) is running parallel to the bull line. If they cross too = Bear signal (which I think it might). 3. Potential Good news for bulls who did not take profit, we are about to test a Fib (which on Bittrex is $10,124) That happen over the weekend as well and we ended up going up $1500 (pretty nice profit if you were on that)
Just my TA not advice for trading, DO YOUR own research, and DON"T believe the hype.
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17:15 UTC You can't see it on my chart but it is using the 200 EMA as support right now. If it breaks support, it will test the FIB level also.
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It fell through the 200EMA next support is $10,124, will it hold???
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Next Hour candle will test the Green2/1 Gann Fan from previous low, could bounce a little, I'm still only slightly bearish until we fall through the $10,124 Fib I am holding my USD, until I am confident we have found a bottom to this drop.
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By the way, touching the $10241 would complete a double bottom, and we know how double bottoms end right??