alanmasters

Bitcoin Blood! Even $33,000 Possible, Going To $40750 First!

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Yesterday we saw blood for the first time in a long while for Bitcoin ... Let's see what will happen next!
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Yesterday, we had a strong bearish candle where prices hit EMA21 at $47400.

Buyers bought and the daily candle closed back above EMA10 and EMA21, keeping the chart potential bullish .

Today, we see more blood with prices moving below EMA21 reaching $44845, the next target is now sitting at EMA50 or $40750.

Candle closure is needed for full bearish confirmation (the daily candle must close below EMA21).

It is still early in the day but Bitcoin had a massive run and it is normal to see a correction on this phase.
It is likely to see lower prices next.

The indicators are fully red.
  • The MACD is showing a bearish cross while the histogram has gone red.
  • The RSI is trending down strong and moved below 50 putting the bears ahead.

Just as yesterday's candle left a long lower wick, the same can happen today.

Waiting for candle closure is important for confirmation as the market is unpredictable and things can always change.
Remember to do your own research...

Where do you think Bitcoin is headed?
LEAVE A COMMENT!

Namaste.
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Comments

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snypisia alanmasters
@alanmasters, what about altcoins, will they grow up or they will follow btc down?
+6 Reply
DD0003 snypisia
@snypisia, usually they do follow the trend of Bitcoin
Reply
@snypisia, who cares altcoins?:))
+3 Reply
snypisia StrmbladeStrm
+3 Reply
@alanmasters, This is indeed a normal correction. and who started it ... the Chinese miners, Elon Musk with a tweet that BTC and ETH were priced a bit high for the moment ,so lots his follower started taking profit, a big shar who sold off a lot of BTC and put in into silver contracts hoping he gets physical silver delivered the next month ... or all together, nobody knows. BTC needs to correct once in a while, and most alts correct even more ... and we can buy the dips we missed out on. So no need to defend yourself to follower who is disappointed in a few months more not being rich Alan ... we all get there. in no time things will go up again, somewhere in April nobody thinks about this correction any more. They go faster and faster up again @FahadAhmedda ;-)!
+10 Reply
@FahadAhmedda, i agree with you however its hard to see when the market will correct, we could have topped at 64K aswell. The Chinese miners started this selling and now retail and whales are following. This is a healthy correction and I beleive we havent seen the bottom yet. Wish everyone the best, dyor and trade at own risk.
+2 Reply
alanmasters cryptobullethbtcxlm
@cryptobullethbtcxlm, Corrections are needed/normal/necessary, bring it one.

Thanks for sharing.
+4 Reply
@alanmasters, yes and i dont think its fair to be screaming at ppl who take the time to share charts here for free. Trade at own risk everyone and you can use these charts as a support but not financial advice, very simple.
+7 Reply
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