We looked at the 4H + Daily (D) timeframes earlier, shared below, and we saw the bears moving in and pushing prices lower...
We read the charts perfectly and we hit our targets.
Now, we know that each timeframe is unique and provides us with different signals.
The longer the timeframe, the stronger the signals we get.
Let's look at Bitcoin Weekly and see where prices are headed next.
Bitcoin ( BTCUSD ) is now aiming lower at EMA50 or ~$9200.
We do have some mixed signals but more than , let's have a look...
Wait, feel free to hit LIKE now, and let's continue!
1) We have a strong candle 31-Aug .
2) A strong cross.
3) The is still solid/strong above 50 but trending down (mixed-signal).
4) Prices trading below EMA10.
If this week BTCUSD closes below $10634 or EMA10, we are extremely likely to see $9200 tested as support.
Conditions for change
Bitcoin needs to settle above the purple trendline for the view to come back on top.
Moving above EMA10 would be the first sign of potential change.
Any trading below EMA10 and we remain while expecting lower prices.
Bitcoin Going To $9100, Bounce Up Or Lower? Altcoins?
Bitcoin Support Levels (My 10X Lev. Trade Targets)
Bitcoin Facing Resistance At MA200 (Short-Term) Yes Or No?