alanmasters

Bitcoin Volume Coming In, Which Price Come Next? $7800 or $4900?

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin ( XBTUSD ) is now trading above EMA10 and EMA50 on increasing volume , putting the bulls ahead.

Prices dropped down at $5683 and bounced from this support level , which is the first support I mention in my previous update... Here is the question, WHAT HAPPENS NEXT?

For XBTUSD ( Bitcoin ) prices hit EMA100 at ~$6500 with a long-wick and is pushing up.
  • If EMA100 is conquered (prices move and close above this level), we can expect Bitcoin to go higher and hit $7300/$7800 or EMA200/MA200 (Blue/Back).
  • But if instead EMA100 holds and prices stay below this level, we will go back down but this time test the $4900 - $5300 price range.

Do you agree?
No, Yes? ...
Share your thoughts with us in the comments section below.

We will wait a bit longer to share our weekly analysis after we see how this Monday opens with the Coronavirus panic in full force now... Let's see how the world markets react, so far cryptocurrency is holding strong.

Thanks a lot for reading.

Namaste.
Mar 24
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Comments

4900 imo.
+6 Reply
alanmasters roberthemmink10
@roberthemmink10, Thanks for sharing.
Reply
I think with the corona crisis in the US and Europe getting worse by day is gonna negatively influence the price as people don’t wanna take too much risk with their finances
+4 Reply
warspite guodidi2
@guodidi2, hi totally agree with you ,the other problem is ,i think is ,the USD is to strong now making bitcoin to expensive for people in other countries to buy as they have other things to buy ie bills and food with no income, cheers
Reply
@warspite, They are printing insane amount of new dollars now. Fiat money is going down in the mid to long term.
Reply
warspite CryptoFrank23
@CryptoFrank23, yes mate i read it just waiting for the usd to hopefully crash a lot as im waiting in the wings to buy, how long do you think before the usd does go down cheers
Reply
@warspite, Uncertain, as more actions for the government can be expected. Normally the value of money should go up a bit as people do not want to spend their money. Then when things get a bit better, the money starts flowing and we'll have a lessening for the value of fiat money.
Reply
warspite CryptoFrank23
cryptoFrank23, ok thanks for that ,i will just have to wait a bit longer cheers
Reply
@guodidi2, True but if the numbers of cases do not increase exponentially, it will be hard to keep the population in panic.
+1 Reply
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