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AlanSantana
Jan 21, 2020 8:00 AM

Bitcoin Can Easily Drop From Current Prices | $8320 Followed by Short

COINBASE:BTCUSD240
Bitcoin / United States DollarCoinbase

Description

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Looking at Bitcoin on the 4H timeframe, the charts are saying that prices can easily move lower.

Right now EMA50 ($8602) is working as support while prices trade below EMA10 after a full red/bearish candle.

The indicators are bearish, RSI and MACD, while EMA100 and MA200 haven't been tested as support since early Jan.
If BTCUSD breaks below $8600 with good volume, we are likely to see $8320 followed by $7753.

Additional details can be found on the chart.
Feel free to leave a comment if you have any questions.

Thanks a lot for reading. :)

Namaste.

Comment

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Comment

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Comment

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New update:



Trend AnalysisTechnical IndicatorsBeyond Technical AnalysisBitcoin (Cryptocurrency)BTCBTCUSDalanmastersbinancealtcoinscryptobitfinex
Comments
Saeed966
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Good job
AlanSantana
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@Saeed966, Thanks.
Confucius-The-Great
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Eric krown talks about the Bart Simpson pattern. That would be a huge candle up and test ma 200 on the daylie chart.

Thanks for sharing.
AlanSantana
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@Confucius-The-Great, Thanks for sharing.
UnknownUnicorn6061584
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informative chart
your thoughts about this work?
AlanSantana
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@david_smith, Thanks for sharing.
In_the_future
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Looks like a Falling Wedge on the 4 hour. Plus, we've taken a number of lower attempts and it just wicks back up. That makes me believe the shorts are running out of steam. So, more likely a Bart Simpson up.
AlanSantana
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@jesdo1977, Bears are surely showing no strength, we will see how it goes.
In_the_future
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@alanmasters, Yep... Good luck man. I will say that the 21 EMA is pretty fxcking solid right now and I'm pretty good at calling tops and bottoms. Called it in the high $19,000's... Called the bottom at $3,150. Called it back in the $13,000's and then again here recently here in the $6,000's.. And as you'll see by this chart, I'm pretty fricking close right now as well.
AlanSantana
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@jesdo1977, Would be great to see your chart fully playout.

Great chart.

Thanks for sharing.
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