Thanks a lot for the overwhelming support on these short-term analyses... Let's now look at the potential targets/support levels for Bitcoin if prices continue to drop.
We've already established and the market confirmed a bearish bias below MA200 and our classic EMAs; EMA10/50/100/200. We remain bearish below these levels.
We also have a descending trendline holding prices down.
As long as prices remain below, we stay bearish.
(NOTE) If prices move and close above MA200 ($9283), these signals become invalid and the bullish scenario becomes possible.
Now, where will prices find support on the next drop?
Here we have the Fib. levels:
1) $9139
2) $9041
3) $8918
4) $8781
These are short-term targets. If a 'real drop' starts to take shape, they can be all taken out in a flash.
If Bitcoin continues sideways bearish, these levels can be tested little by little.
This is not financial advice and remember to have your own plan/strategy if you decide to trade.
The charts are always changing, so it is wise to plan ahead.
Thanks a lot for your continued support.
This is Alan Masters.
Namaste.
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