Bitcoin, Not So Fast Trolls... $16,500 Target Still In-Play!Patience is key... Our $16500 target is still in-play for Bitcoin (BTCUSD).
Bitcoin broke bearish yesterday and we saw its price decrease by over $1200 after my previous trade idea...
We are now seeing a small bounce with the chart still looking bearish.
Notice that prices are still trading below EMA10, EMA21, EMA50, and EMA100.
The MACD is now below zero (0) and the RSI below 50, both bearish signals.
We have a bearish cross between multiple EMAs and when we look at the daily timeframe, prices are still trading below EMA10.
Patience is the key is what I always say...
As long as prices remain below EMA50, we expect to see even lower prices next.
Previous chart | Bitcoin To ~$16,500 Now Confirmed!
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Thanks a lot for your support.
Namaste.
