Bitcoin TA Round 2: Bearish Theory Initially Was Spot On

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
As we published in our original technical analysis last week, we were stating a strong bearish case when Bitcoin was trading around $10,200. The reason we stated this was simply looking at the 100 day moving average, which historically has been a large indication of price momentum. We mentioned that dipping below the 100 MA and not maintain support could create an environment where Bitcoin sold-off to test the $9,000 arena. Since the original post, Bitcoin has dropped from $10,200 to about $9,500. The chart still seems bearish and the $9,000 test could really come to fruition as we originally stated. If you are not familar with us yet, you can look our for Visionary Financial ( VF Crypto ) as we are a crypto media outlet that serves 14,000+ enthusiasts daily. Come find us!
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