Yesterday we saw blood for the first time in a long while for Bitcoin... Let's see what will happen next! Hit LIKE now to get started!
Yesterday, we had a strong bearish candle where prices hit EMA21 at $47400.
Buyers bought and the daily candle closed back above EMA10 and EMA21, keeping the chart potential bullish.
Today, we see more blood with prices moving below EMA21 reaching $44845, the next target is now sitting at EMA50 or $40750.
Candle closure is needed for full bearish confirmation (the daily candle must close below EMA21).
It is still early in the day but Bitcoin had a massive run and it is normal to see a correction on this phase. It is likely to see lower prices next.
The indicators are fully red.
The MACD is showing a bearish cross while the histogram has gone red.
The RSI is trending down strong and moved below 50 putting the bears ahead.
Just as yesterday's candle left a long lower wick, the same can happen today.
Waiting for candle closure is important for confirmation as the market is unpredictable and things can always change. Remember to do your own research...
Where do you think Bitcoin is headed? LEAVE A COMMENT!