EMA50 is a strong indicator when it comes to BTCUSD and the 1-day chart...
Support is found now at $10489 or EMA100.
Below EMA100 we will see a stronger drop.
Will Bitcoin bounce from the EMA100 support or keep on going lower?
We have increasing bear today but still low... So, how can we tell if prices will bounce or not?
We can look at our indicators to get some clues.
- The is trading below the zero line, which is and also trending lower... Looks like it is about to print a cross.
- The is still good/solid at 44+ but also trending lower, printing lower highs since the 1st of August.
Our next target is set at $9850 followed by $9370.
Conditions for change
If prices move back up and stay above EMA50, the above signals can easily be invalidated and the potential is lost.
For now, the bears are starting to gain strength, so we remain on Bitcoin short-term and we go with the flow.
Share your thoughts in the comments section below.
Here is ETHUSD
✳️ Ethereum Looks Just Like Bitcoin, Bearish, Next Target Mapped!
said the newbie
ps ... if it was work you would have already been fired
Do you say I fire myself?
That doesn't make any sense.
you are a boss only if you are a boss
you are just a newbie trying to show up
I am happy to be one.
I take no offense.
The New Newbie.
Or the TOP Newbie.
What do you call yourself?
The old troll.
... Just kidding.
Wishing you a nice day.
Thanks a lot for the support.