AlanSantana

Bitcoin Weekly First Support At $16,000

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We will keep this one short and simple.

This is the weekly (W) timeframe for Bitcoin ( BTCUSD ).

The week still has two more days to go but we are seeing the current price below lasts week's low, which is set at $18100.

The current price is also lower than the week before last week's close, which is set at $18192. This is the candle with the #9 on top.

This doesn't look good.

If Bitcoin closes this week below the prices mentioned above, we will see EMA10 tested, in the least, meaning $16000.

The RSI & STOCK are clearly trending lower:
The ascending channel is also being broken.

Watch out, Bitcoin can easily move lower.

Namaste.
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