AlanSantana

Warning: Bitcoin Trading Below EMA10 (Our Support & Resistance)

Short
AlanSantana Premium Updated   
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin ( BTCUSD ) is now trading below EMA10, which highly increases the potential for a drop here.

A closer look (Sharing Bitcoin's important support and resistance levels as promised):
  • Looking at the moving averages as indicators for support, a drop here can lead Bitcoin to test EMA50 sitting at $6177.
  • Bitcoin also has short term support sitting around the $7200 - $7450 range, followed $6775.
  • On the other hand, if Bitcoin turns around and moves up, we are looking at $8410 as the main resistance, followed by $8900 and finally $9950.
  • Current price is hovering around $7635.

Where do you think Bitcoin is headed next?

Share your thoughts in the comments section below.

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Namaste.
Comment:
Bitcoin (BTCUSD) on the Monthly Time Frame (This is an interesting chart, it is extremely bullish, come and take a look)...

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