First, Bitcoin ( BTCUSD ) started to move up breaking resistance after resistance until it reached $10,517.20.
After hitting ~$10,500, multiple signals started to develop.
- We have a high candle printed 13-Feb., signaling that a drop is coming.
- Now prices are testing EMA10 ($10031) while the indicators are trending down.
- The and are both curving down.
Since Bitcoin started to move up, it only retraced as far back as EMA10... On this drop, we are very likely to test EMA50, at the least... Based on past history, these levels are always tested as support once they have been conquered.
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