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

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.

Remember to hit like.

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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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.

alanmasters CryptoTraderXL
@CryptoTraderXL, Thanks for the chart.
I agree with your 6800 projection. This is the 4H chart broken down into support levels.

alanmasters TradingShot
@TradingShot, Thanks for sharing.
@scripter, We believe things are just getting started for Bitcoin not ending.

Thanks for the chart and perspective.

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.
+6 Reply
@georgime, I agree, thanks a lot for sharing.
+4 Reply
georgime alanmasters
@alanmasters, We are likely to go test $9990.
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