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AlanSantana
May 22, 2020 10:07 PM

Bitcoin Daily Remains Bearish 

BITMEX:XBTUSD.P1D
Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

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Bitcoin (XBTUSD) on the daily timeframe remains bearish.

1) Yesterday we have the drop and closure below EMA10, confirming all the bearish signals we looked at before the drop.

2) If prices don't increase by 00:00 UTC, we will be looking at an inside bar (bearish).

3) EMA50 and EMA100 haven't been tested yet and we have prices aiming lower.

4) Trading volume dropping.

5) ALTSBTC Pairs Booming


6) The MACD is trending down but the RSI remains strong.

This chart is looking straight red for me... What's your take?

Please share in the comments below.

Namaste.
Trend AnalysisTechnical IndicatorsBeyond Technical AnalysisBitcoin (Cryptocurrency)xbtXBTUSDprimexbtbitmexaltcoinscryptobinancealanmasters
Comments
CryptoCheck-
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awsome work
AlanSantana
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@CryptoCheck-, Thanks.
m00n_man
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Idk. I think another dump to mid 8000s is pretty likely and historically a big percentage drop seems to happen right before a climb especially after a long uptrend. Just a gut feeling though. Who knows.
AlanSantana
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@m00n_man, Sounds about right... Thanks for sharing.
m00n_man
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@m00n_man, so yes bearish on the daily
SALAH-LH
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Prices are still good
jurytrades
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Im still bearish. :) nice chart, Alan!
AlanSantana
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@jdabfinance, Thanks for sharing.
six19trading
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I think the weekly close will be important. I am neutral (out of my positions)
PolarHusk
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thanks for the bearish side of view
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