Warning: Bitcoin Trading Below EMA10 (Our Support & Resistance)
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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):
Where do you think Bitcoin is headed next?
Share your thoughts in the comments section below.
Remember to hit like.
Namaste.
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.
Remember to hit like.
Namaste.
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Comments
The weekly chart still looks bullish! This week's candle has not engulfed half of the body of last week's candle, so there is an upward potential we will test $8500 again, and then potentially challenge $9,990. However, only time will tell.
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6500 region would be very realistic. Wicks can act as a magnet. I think that we have a lot of buy power in the 6500 region. So it wont consolidate there IMO.
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I agree with your 6800 projection. This is the 4H chart broken down into support levels.
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@scripter, We believe things are just getting started for Bitcoin not ending.
Thanks for the chart and perspective.
Appreciated.
Thanks for the chart and perspective.
Appreciated.
Reply
Here: