Bitcoin Clearly Going For $10,555 If This Criterion Is Met...

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin ( BTCUSD ) has been aiming lower since reaching a top on the 6th of August. We warned about an imminent retrace and this is now happening... Let's take a look at the chart:

  • BTCUSD is now trading below EMA10 ($11,300). In my previous article, we mention that any trading above this level is bullish , but below this level, we go bearish . The daily candle is yet to close, but if BTCUSD closes below EMA100, it is very likely to move lower.

  • Our next target is sitting at EMA50 which is now $10,551. This is the level where Bitcoin will find support next if it closes bearish today.

  • MACD and RSI are leaning towards the bulls. The RSI is gaining momentum down and signals a strong drop incoming. Here is the chart: You can see our previous analysis with altcoins market update below... Still valid:

    Bitcoin Bearish Short-Term (Aims at $11,000 or Lower) + Altcoins

    Bitcoin Looking To Retrace, $10,400 Possible, Full Analysis!

    Bitcoin Weekly Update ( Bullish vs Bearish Potential)

    Feel free to hit like if you want to show us some support.

    Thanks a lot for reading.

Trade closed: target reached: Target hit. Wait until our next update.

Thanks a lot for the support.

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Thanks @AlanSantana
+1 Reply
AlanSantana TasPerry
@TasPerry, It is my pleasure. :)