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AlanSantana
Mar 22, 2020 8:08 PM

Bitcoin Dropping (Short-Term) 

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

Bitcoin (XBTUSD) recently closed below EMA10 and now also EMA50 has been broken as support... With this break, prices can easily move lower and hit $5660.

If $5660 breaks (red arrow), then prices can go even lower and hit $5250/$5300 short-term, depending on how this level is handled we can look for the next move, at that time we can share a new analysis if you are interested.

Conditions for change
If momentum shifts and prices go up and close above EMA50 or $6040 on this timeframe, we can consider the retrace over and that prices will resume the uptrend (green arrow)... Thanks a lot for your support.

Namaste.

Comment

We will share a new analysis once the weekly (W) candle closes (less than 4 hours from now).

This can be a bloody Monday... We will see...

Comment

Conditions for change
If momentum shifts and prices go up and close above EMA50 or $6040 on this timeframe, we can consider the retrace over and that prices will resume the uptrend (green arrow)... Thanks a lot for your support.

Comment

Short-term update:
Comments
camapboiobienrong
U said monday BTC will drop to below 3000$ ?
No way . I think it will be 4000-4500$ !
bitkidd
@manwalkaloneway, i do think low 3K is possible as the s&p is expected to drop further on Mon.
AlanSantana
@bitkidd, Thanks for sharing.
AlanSantana
@manwalkaloneway, That's not what I am saying.
AlanSantana
@manwalkaloneway, New update shared.
PeePla
Thank you
AlanSantana
@Pornchanok, It is my pleasure.
Aru_of_Patriot_Crypto
Made lots of profits from this range (day trader) +280 but I fear large swing coming and looking nasty. Take what I say with a grain of salt but I feel the ye olde fake pump to dump coming. . . Hmmmm... anyway gl all and thank you alanmasters, probably best free trader I know. Your weekly specialization is legendary in my books. Always like to see what’s trending and your a valuable source my friend.

*Tip of the hat*
Aru
AlanSantana
@aruchard, Thanks a lot for the comment and support, truly apprecited.
AlanSantana
@aruchard, Shared a new update... :)

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