Here I am mapping the next move for Bitcoin (XBTUSD) short-term (4H).
- Prices tested EMA50 as support and close below EMA10, switching the potential from bullish to bearish.
- The MACD is showing a bearish cross.
- Bearish divergence is visible with the MACD and RSI.
- We've been expecting a drop since Bitcoin printed a lower-high.
Conditions for change
If prices move and close above $10,000, the above signals become invalid and a new analysis is needed.
Visit the trade idea below for Bitcoin Weekly | Bullish Vs Bearish Bitcoin (Mixed Signals or Mixed Feelings?)
Feel free to leave a comment if you have any questions.
Thanks a lot for your continued support.
Namaste.
Comment:
Update (still bearish short-term)
Comment:
Looks like a big one incoming...
Comment:
Enjoy the profits...
ADAM20
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