BitcoinShort
Bitcoin to $19,000?
When comparing the chart pattern in March of 2020 to the patterns we are seeing the past couple of weeks, it indicates a test of the $19,000 level within 30 days or less.
Red Line = 20 EMA
White Line = 50 EMA
Yellow Line = 200 EMA
The 20 EMA has yet to absord the drop we saw a few weeks ago on BTC, when this drop catches up with it... basically it will send the price to the downside unless there is a large amount of buyers; simple analysis.
Once the price drops below the 50 EMA & the 20 EMA comes in contact with the 50, it will drive the price down very quickly and suddenly to the next support (19K).
I know this isnt ideal for anyone but I wanted to share my analysis with you guys just in case, I personally feel that this scenario will occur however that is just my prediction.
Thank you for your time!
Red Line = 20 EMA
White Line = 50 EMA
Yellow Line = 200 EMA
The 20 EMA has yet to absord the drop we saw a few weeks ago on BTC, when this drop catches up with it... basically it will send the price to the downside unless there is a large amount of buyers; simple analysis.
Once the price drops below the 50 EMA & the 20 EMA comes in contact with the 50, it will drive the price down very quickly and suddenly to the next support (19K).
I know this isnt ideal for anyone but I wanted to share my analysis with you guys just in case, I personally feel that this scenario will occur however that is just my prediction.
Thank you for your time!
Disclaimer
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.