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Saturday, October 3, 2020

Alert: Bitcoin is showing bearish conditions!!!

Alert: Bitcoin is showing bearish conditions!!!

BTC/USD COINBASE:BTCUSD
snapshot

snapshot

Bitcoin show in Daily timeframe a consolidation on the trend. Right now, if you look out in H1 or H4 timeframe, the trend is become bearish if we applied the EMA 200, so that mean that Bitcoin is below of the EMA 200 in H4 and H1 timefrmame, that sign turn bearish!!!

Now, as we see a consolidation, we could proyect a formation of ABC pattern what Bitcoin is leading to the important support in Daily at $9,000 USD, that is an important support. Now, right now the key support line was candelled because is applied on the simetric triangle that Bitcoin formed in Daily timeframe or H4 timeframe.

snapshot

And right now, in H4 and H1 timeframe too, we see a bearish rising wedge and we expect a possible entry around of $10,600 USD in average to make a short position until the $10,165 USD. If you apply the EMA 200, you can noticed it that BIitcoin is below, and that mean that bears are taking the control to leading the bearish sentiment of crypto-markets.

In minutes, I will going to analyze Ethereum!!!

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