Bitcoin Bearish Pattern, Be Careful

Bitcoin / DollarBitfinex

Description

⋅ Oct 25, 2020 12:37 PM

Bitcoin (BTCUSD) just printed the first bearish signal/pattern since breaking above $11500, once our strongest barrier.

With this bearish signal now in, marked on the chart, additional bearish action can follow.

This is just a friendly reminder.

BTCUSD Chart Analysis/Signals

After a strong bearish candle, BTCUSD closed below EMA10 and the indicators are trending lower.

Any trading below EMA10 (green line) and the bearish potential is on.

If prices move back above EMA10, we forget about the bearish pattern and continue to enjoy as prices grow.

Namaste.

Comments

Honalulu

⋅ Oct 26, 2020 9:00 PM

Buy signal = you are telling to sell

FindTheSun

⋅ Oct 27, 2020 2:41 PM

@Honalulu, why is this a buy signal?

elyminas

⋅ Oct 25, 2020 1:19 PM

THANKS for your continuous analysis and help!

AlanSantana

⋅ Oct 25, 2020 1:20 PM

@elyminas, Glad to know this is helpful to you.

Namaste.

zahidnaz121

⋅ Oct 25, 2020 1:18 PM

Keep us updated on btc charts. Thanks man.

AlanSantana

⋅ Oct 25, 2020 1:20 PM

@zahidnaz121, My pleasure.

AspiringPro

⋅ Oct 27, 2020 6:00 PM

Wow! Unprecedented price action - reminds me a lot of 2016,2017. How about you, Alan? I know you were around then too. Alts and BTC is eerily reminiscent of early 2017 if you ask me :) Maybe 100k+ per BTC is not so farfetched after all!

Honalulu

⋅ Oct 27, 2020 10:36 AM

Most terible analyst on TW, OMG.

PolarHusk

⋅ Oct 26, 2020 11:34 AM

1st a sign of weakness I think. 🐻‍❄️🙏😊😃

bestfarbit74

⋅ Oct 26, 2020 10:42 AM

great job, agree