Bitcoin Facing Resistance At MA200 (Short-Term) Yes Or No?
Updated
We have Bitcoin (BTCUSD | 4H) facing resistance at MA200, the black line on the chart.
A strong drop followed after BTCUSD closed below MA200 back on 2-Sept.
Prices dropped from ~$11600 all the way to $9800+.
This move is just shaping up but I am seeing lower prices.
I don't want to let my bias get in the way so let me tell you that this current candle is yet to close.
As no volume came in when MA200 was hit and prices are moving below EMA10...
We will take the signal and call it a drop, but if BTCUSD moves and closes above MA200/EMA10, we can see more up.
Overall, I am getting a bearish sentiment with a strong bearish signal in early August and a support level has been taken off.
We will see lower prices... Yes or No?
Share with us in the comments section below.
Namaste.
A strong drop followed after BTCUSD closed below MA200 back on 2-Sept.
Prices dropped from ~$11600 all the way to $9800+.
- Today we have a rejection at MA200 on the 4H chart...
- We have a bearish cross on the MACD.
- Bearish divergence between BTCUSD and the MACD.
- And prices breaking below EMA10.
This move is just shaping up but I am seeing lower prices.
I don't want to let my bias get in the way so let me tell you that this current candle is yet to close.
As no volume came in when MA200 was hit and prices are moving below EMA10...
We will take the signal and call it a drop, but if BTCUSD moves and closes above MA200/EMA10, we can see more up.
Overall, I am getting a bearish sentiment with a strong bearish signal in early August and a support level has been taken off.
We will see lower prices... Yes or No?
Share with us in the comments section below.
Namaste.
Note
We are active with short trade for Bitcoin (BTCUSD) since 18-Sept...By request, here you have my support levels/targets.
[B]MAKE SURE TO HIT LIKE TO SUPPORT MY WORK AND GET MORE TRADE IDEAS LIKE THESE...[/B]
Namaste.
Note
In June when BTCUSD moved above EMA21 it kept on going higher... After it closed below we now have a lower high and EMA21 is already being tested, it is never tested when prices are going up.A higher low between above and below the EMA21 is the bearish signal:
The fact that EMA21 is being tested tells me that momentum is being lost... The volume has been really low all throughout as well.
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