Ethereum (ETHUSD) moves back to follow Bitcoin (BTCUSD).
On the last move, ETHUSD went on to post a higher high while Bitcoin printed a lower high...
The chart for Bitcoin was clearly bearish but Ethereum instead looked like the bulls had won.
Now we have prices breaking below EMA10 on increasing volume and momentum building upon the drop.
Bearish divergence is also visible with the MACD and RSI.
The next target is sitting at $370 or EMA50 and likely to go lower if ETHUSD continues to follow Bitcoin.
After $370, we have $321 or EMA100 as the main support.
Here is the Bitcoin chart... Let me know your thoughts in the comments section below.
Conditions for change Moving and close above EMA10 can signal the potential for additional growth... If we stay below the bearish bias becomes dominant in this setup for the reasons/signals mentioned above.
@fbuni, If it happens a short one... I am seeing lower prices ahead.
gokulaselvi
⋅
May I know the next stop?
PolarHusk
⋅
nice update ++
mikiz51
⋅
bears getting cocky ...
AlanSantana
⋅
@mikiz51c7, I am not a bear... This is just normal market movements/cycles.
kalenen
⋅
@alanmasters, Normal? How about manipulated. Someone really didn't want bitcoin to move past 12K.
jbwathen89
⋅
@kalenen, just because it is manipulated id doesn't affect us as long as you know when to pull out and not be greedy. Whales are assholes, but they are loaded and control over 50% of the market. But if you were rich, you'd probably do the same thing since it is at a point where you could control the market in ways prevent you from losing large sums of money.