alanmasters

Bitcoin Facing Resistance At MA200 (Short-Term) Yes Or No?

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We have Bitcoin ( BTCUSD | 4H) facing resistance at MA200, the black line on the chart.

A strong drop followed after BTCUSD closed below MA200 back on 2-Sept.
Prices dropped from ~$11600 all the way to $9800+.

  • Today we have a rejection at MA200 on the 4H chart...
  • We have a bearish cross on the MACD .
  • Bearish divergence between BTCUSD and the MACD .
  • And prices breaking below EMA10.

This move is just shaping up but I am seeing lower prices.
I don't want to let my bias get in the way so let me tell you that this current candle is yet to close.

As no volume came in when MA200 was hit and prices are moving below EMA10...
We will take the signal and call it a drop, but if BTCUSD moves and closes above MA200/EMA10, we can see more up.

Overall, I am getting a bearish sentiment with a strong bearish signal in early August and a support level has been taken off.

We will see lower prices... Yes or No?

Share with us in the comments section below.

Namaste.
Comment: We are active with short trade for Bitcoin (BTCUSD) since 18-Sept...
By request, here you have my support levels/targets.

MAKE SURE TO HIT LIKE TO SUPPORT MY WORK AND GET MORE TRADE IDEAS LIKE THESE...

Namaste.
Comment: In June when BTCUSD moved above EMA21 it kept on going higher... After it closed below we now have a lower high and EMA21 is already being tested, it is never tested when prices are going up.

A higher low between above and below the EMA21 is the bearish signal:
The fact that EMA21 is being tested tells me that momentum is being lost... The volume has been really low all throughout as well.
🌐 ALAN MASTERS TRADES PREMIUM
The Best Altcoins Trades | Discount code 🔥85ofall
https://alanmasterstrades.com

➡️ Alts, Btc, FREE trades & More
https://t.me/AMTrades

🥇 Results
https://alanmasterstrades.com/results/

💬 CHAT http://alanmasters.chat

Comments

Bearish. Seeing this kind of movement on a weekend makes me nervous. And with the random spikes we've been seeing today.

Wouldn't be surprised if a lot of these green numbers on the market turn red really quick.
+3 Reply
alanmasters reggiogeorge
@reggiogeorge, Same here... We might see a strong red candle show up soon... But we are ready and prepared.

Thanks a lot for your comment.

Namaste.
+1 Reply
reggiogeorge alanmasters
@alanmasters, Huge volume of options looking to expire Friday as well. Not that I stake my life on that, but you know what happens when things coincide.
+1 Reply
alanmasters reggiogeorge
@reggiogeorge, Yes... Down we go... Hopefully, a higher low is hit fast and Bitcoin resumes growing.
Reply
Great & so perfect analysis,,,
+1 Reply
Yup, and 11 200 is the 61.8 retrace as well. I carried 11 450 over from previous time we were there. Please have a look at my latest chart's blocks. Many thanks
+1 Reply
@Rule72, I enjoyed the coin story and your analysis in favor of Bitcoin's value going up over time.

Thanks a lot for sharing.

Namaste.
Reply
Rule72 alanmasters
@alanmasters, Thank you for reading it.
+1 Reply
GoodPotential
+1 Reply
And as always great analysis
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out