We continued to mention as Bitcoin ( XBTUSD ) peaked that the volume was low... This low volume with the bearish signals that were developing was pointing to a drop ... Now, the trading volume is starting to go up...
We have big volume on this drop and the indicators going full bearish .
Prices moved just below MA200/EMA200 on a long-wick, now with EMA300 (gray)...
XBTUSD (Bitcoin) is now looking full bearish with multiple bearish signals in the making... Let's take a look at those:
First we have a break of EMA10 and EMA50 as support. Prices are now trading below this level switching our potential from bullish to bearish.
Bearish cross between EMA10 and EMA50.
Bearish RSI, trending lower.
Monday's can be...
Here we have XBTUSD ( Bitcoin ) short-term (1H timeframe).
Right now we are seeing volume slowly rising with prices moving above EMA100 (blue line).
The next barrier is sitting at $9841 (MA200) followed by $9980 and $10185 (fib.).
If prices move lower, we are looking first at EMA50 at $9691 as support followed by $9500... We are looking bullish right now.