The Crypto Total Market Cap. (TOTAL) is now moving below EMA10 after a strong bearish signal... This one looks like another repeat of the BTCUSD chart.
We have a lower high compared to June, marked with a red rectangle. We have the MACD and RSI trending lower... See below.
MACD RSI
Looking closer at this chart, it seems that Bitcoin can go as low as $4000-$5000.
Conditions for change If the market cap. moves above the mid-Aug. high this setup becomes invalid.
Remember that the charts are always changing and can always change... Use a stop-loss if you decide to trade.
Just as we saw how the Coronavirus hype was used to change the world as we know it... Many other events can take place with similar results.
Share with us in the comments below.
Namaste.
Latest Bitcoin update Bitcoin On Multiple Timeframes (Daily, 4H) Below $9.2 If This...