Bitcoin (BTCUSD) has been aiming lower since reaching a top on the 6th of August. We warned about an imminent retrace and this is now happening... Let's take a look at the chart:
- BTCUSD is now trading below EMA10 ($11,300). In my previous article, we mention that any trading above this level is bullish, but below this level, we go bearish. The daily candle is yet to close, but if BTCUSD closes below EMA100, it is very likely to move lower.
- Our next target is sitting at EMA50 which is now $10,551. This is the level where Bitcoin will find support next if it closes bearish today.
- MACD and RSI are leaning towards the bulls. The RSI is gaining momentum down and signals a strong drop incoming. Here is the chart:
You can see our previous analysis with altcoins market update below... Still valid:
Bitcoin Bearish Short-Term (Aims at $11,000 or Lower) + AltcoinsBitcoin Looking To Retrace, $10,400 Possible, Full Analysis!
Bitcoin Weekly Update (Bullish vs Bearish Potential)
Feel free to hit like if you want to show us some support.
Thanks a lot for reading.
Namaste.
Note
Thanks for the great support.For all of our readers, supporters and followers, here is a great trade for EOS Token (EOSU19):
EOSBTC:
The Ripple (XRPU19) trade is now aiming for our second target:
![[XRPU19][LONG][7X][165.13% ROE] Ripple 7X Lev. (165% ROE)](https://s3.tradingview.com/m/mW27Lamg_mid.png)
Dusk Network (DUSKBTC) Chart Is Looking Quite Bullish...
Trade closed: target reached
Target hit... A new update will be shared soon.Thanks a lot for reading.
Namaste.
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🚨 The difference between poor weak signals & PREMIUM trade-numbers lies in results. Stand apart from the crowd. #1 Since 2017. Join now 👉 t.me/lamatrades/4
🎯 LIFETIME Results: t.me/anandatrades/1183
(Click & Claim Your FREE Pizza! 🍕)
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(Click & Claim Your FREE Pizza! 🍕)
Related publications
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.