Tendorian

21st March BTC Please be very very careful

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Not to spread FUD or make people close their longs, but we are at a very very critical point, we broke below the 200 EMA on the daily and is testing back to it right now. The Daily MACD is also at an important point, a sustained down move will open up the possibilities of $5000. Only a break above the 200 EMA can change this still bearish trend on the Daily.

In the long term yes we are still bullish , but in the short term a drop to $5000 and below will devastate most people especially if you are leveraged on longs.

This is not spreading FUD, as a Technical Analyst this is what I am seeing, I am neutral, I read the charts only.
Mar 21
Comment:

Watch out!
Mar 21
Comment:

8600 and 8350 are zones to watch for a breakdown or reversal
The trend has changed to down for now
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at what point is a downtrend confirmed?
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Tendorian axelroses
@axelroses, I would say a break below 8300 is the first sign of the breakdown.
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