TerryKinder

Bitcoin Technical Breakdown Continues

BITSTAMP:BTCUSD   Bitcoin / Dollar
Bitcoin continues its technical breakdown. On the 1-day chart the 50-day EMA has crossed below the 100-day EMA . You'll also notice Bitcoin price has dropped far below the 200-day EMA as well.

In addition, Bitcoin has fallen below the Keltner Channels , which is something I had mentioned as a possibility in the past.

On Balance Volume (OBV) is at an extremely low level. The last time OBV was at these levels Bitcoin price was closer to $100 than $200.

Expect the pain to continue.
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