We looked multiple times at the 1H timeframe, then 4H and now we are going to have another look at the daily (D).
Here we have prices dropping below EMA10 and EMA50.
Yesterday's candles closed below these levels and now we have a drop starting to shape.
We can see a cross of EMA10 and EMA50 taking form.
This is when EMA10 crosses down the EMA50 line. This isn't .
When we look at the , we can see a cross happening below the zero line.
We consider the to be in the 'bullish zone' above zero and 'bearish zone' below zero.
This other signal isn't as well.
The and are also curving down and moving lower.
The is at 43.85 which isn't bad, anything above 40 is still good but we call above 50.
Below 40 we would say for sure but seeing it trending down and also breaking the trendline doesn't make it ...
This can all be just noise with a simple bounce on EMA100 and prices moving back up. But the signals that I shared in previous articles are telling us that prices can test the lower support.
What's your take?
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The chart is full of bearish signals which I described.
I meant it as kind of a joke but we are definitely looking at a bearish Bitcoin.
Thanks a lot for the support.
See it here:
I can see how that assumption can be made.
I thought it would be easy for people to see by reading the article that I was giving the message in reverse.
We are looking at a bearish Bitcoin according to the signals coming from the chart.