BitcoinShort
Bitcoin TA Round 2: Bearish Theory Initially Was Spot On
As we published in our original technical analysis last week, we were stating a strong bearish case when Bitcoin was trading around $10,200. The reason we stated this was simply looking at the 100 day moving average, which historically has been a large indication of price momentum. We mentioned that dipping below the 100 MA and not maintain support could create an environment where Bitcoin sold-off to test the $9,000 arena. Since the original post, Bitcoin has dropped from $10,200 to about $9,500. The chart still seems bearish and the $9,000 test could really come to fruition as we originally stated. If you are not familar with us yet, you can look our for Visionary Financial ( VF Crypto ) as we are a crypto media outlet that serves 14,000+ enthusiasts daily. Come find us!
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.