Recently we looked at Bitcoin (XBTUSD) short-term on the 1H timeframe, the chart was looking bearish.
Here we have BTCUSD on the 4H timeframe and the bearish bias is gaining a bit of momentum now, still developing.
Prices broke below EMA10 with the next target sitting at $8334 or EMA50.
It is still early on this drop and the trading volume is still low but, this is likely to go below EMA50 or even lower.
We remain open to seeing the markets/charts change at any and all times, that is why we always have a plan/strategy in place BEFORE we decide to trade.
Your support is truly appreciated once more.
This is not financial advice.
Namaste. -------
Previous analysis: 🅱️ Bitcoin Drop Takes Form (Support Levels + Signals) | 1111
I have found an interesting correlation between Bitcoin, Asian stocks, and US stocks. Often times, I’ve noticed that in the evening Easter Time, bitcoin will make a sudden move in one direction. From there, Asian stocks follow, then US stocks. It seems like bitcoin is a bit prognostic for market movement over the next day. It would be interesting to study this and see if it could be exploited