Bitcoin: Test for the bulls.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin lost the critical $9500 level and is now looking to retest an aread of confluence below namely:

- 200 day moving average at $8789
- The point of control of the whole move at $8600
- The 50% Fibonacci retracement level
- The 20 and 50 week moving average at c.$8500
- The CME gap.

In simple terms, i am looking to short a bearish retest of $9550 and am not bullish until we can break the pattern of lower nighs and lower lows, to reclaim $10000.

The overall bull trend needs the area of support to hold; it presents an attractive risk-defined long term long entry i plan to close out short cover down here.

I covered off this in much more detail in my free newsletter along with on-chain analysis and depth toward my 12 month forecast, which you can sign up to in my bio.

Drop a like if you want to support, otherwise, thanks for dropping by.

Good luck, filb
Comment: Well that escalated quickly.

Comment: Still think 8555 could be looked at before we get a decent bounce.
Comment: Took some profit on my longs here.

Looking to reenter markets 8500-8650.

I will give day to day updates in my telegram channel - see bio.

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I love it, everyone is so bearish!! Best buy signal ever!!
+25 Reply
@Giak, we need more bearishness first to lure the new bears into disbelief
+9 Reply
@Giak, agreed! while we had $10,000 everyone was bullish for $14,000+, I sold, now, let's buy more :)
+2 Reply
AlanSantana dehpaganine
@dehpaganine, Not everyone...

+1 Reply
@Giak, Everyone is bearish? the whole Crypto community is "HODLING" to get *rich*, where do you assume everyone is bearish?
+1 Reply
@Giak, Still love it?
filbfilb Crypapi
@Crypapi, yoooo you turned into me...! hahaha good to see u bro.
Crypapi filbfilb
@filbfilb, Haha cheers bud, ye, need some Filb times.
how about this scenario
+9 Reply
markroby888 OpenBlock
@OpenBlock, - need to see a doctor you’re insane
+28 Reply