Bitcoin Drop Takes Form (Support Levels + Signals)
Updated
I sent out an early signal about Bitcoin (BTCUSD) dropping... I know it is really early for many people but these are the signals coming from the charts.
I am only reading the chart... The chart can always change and is always changing as each candle closes.
At the time of writing, this is what I am getting from the BTCUSD (Short-term) 1H Timeframe chart.
Bitcoin Drop Starts To Take Form
Prices peaked for Bitcoin on the 30th of April.
All of the above signals are pointing to a drop.
The dashed lines on the chart with the different fib. levels and BTCUSD prices stand for SUPPORT.
How Can It All Change and Bitcoin Go Bullish Short-Term?
Prices need to move back above EMA10 for BTCUSD and print a new high compared to the 30th of April.
This can signal additional growth... For now, Bitcoin is starting to drop.
You can see more below:
Bitcoin Peak Prices Since All-Time High @$20000 (Lower Highs)
Bitcoin, Watch Out For The Drop (Where To Next?)
Bitcoin Drop Starts Now?
Remember to hit LIKE to show your support.
This is Alan Masters
Thanks a lot for reading.
Namaste.
I am only reading the chart... The chart can always change and is always changing as each candle closes.
At the time of writing, this is what I am getting from the BTCUSD (Short-term) 1H Timeframe chart.
Bitcoin Drop Starts To Take Form
Prices peaked for Bitcoin on the 30th of April.
- So far we are looking at a lower high on the 1h timeframe.
- The last candle closed below EMA10. This candle also has above-average bear/red volume, signaling that the bears are waking up.
- The MACD is showing a bearish cross (MACD crossing down the signal line).
- The RSI is trending lower.
- EMA50 was tested recently and held as support, prices bounced and printed a higher low. Now that EMA50 is being tested again, this support level isn't likely to hold.
All of the above signals are pointing to a drop.
The dashed lines on the chart with the different fib. levels and BTCUSD prices stand for SUPPORT.
How Can It All Change and Bitcoin Go Bullish Short-Term?
Prices need to move back above EMA10 for BTCUSD and print a new high compared to the 30th of April.
This can signal additional growth... For now, Bitcoin is starting to drop.
You can see more below:
Bitcoin Peak Prices Since All-Time High @$20000 (Lower Highs)
Bitcoin, Watch Out For The Drop (Where To Next?)
Bitcoin Drop Starts Now?
Remember to hit LIKE to show your support.
This is Alan Masters
Thanks a lot for reading.
Namaste.
Note
Note
Zilliqa (ZILBTC)
Holo (HOTBTC)
Eidoo Going Bullish (Another Fake Breakdown)
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
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.