The price for Bitcoin on the 4H timeframe is facing resistance at the EMA200 brown line.
Right below this level, we have EMA300 as strong/critical support.
This level decides what happens next.
The range goes from $11100 to $11200.
Below this level, the bias becomes stronger and we can easily see lower prices.
Above this level, there is the potential for a bounce and for Bitcoin prices to move back up...
But we have multiple signals, let's have a look at those:
1) Prices trading below MA200 as well as EMA10/50/100/200.
2) EMA50 and EMA100 cross.
3) moving below zero while trending lower. Red histogram.
4) now below 40 sitting at 35, which is weak/ .
5) The critical hit 3 times already within 10 days.
The charts are always changing of course... So make sure to build your own plan/strategy before you trade.
This is not financial advice.
See here for a long-term timeframe (daily) analysis...
Bearish Bitcoin Confirmed! ($9600 Next?) Altcoins?
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