Bitcoin Weekly Closes Below EMA10 | Bear Mode ON! | $7,929?

Bitcoin (BTCUSD) just closed below EMA10 on the weekly timeframe, let's get back to the basics... Back to keeping it simple...

Above EMA10 = Bullish potential
Below EMA10 = Bearish potential

Bitcoin's bearish potential has been activated on this timeframe, if BTCUSD remains below EMA10, it is very likely to move lower and test EMA50, which is now sitting at $7929.

There is strong support at around ~$9,000 which needs to break first before EMA50 can be tested as the next support.

For Bitcoin to reverse, the first barrier to break is a close above EMA10 ($10,070). After this level is broken, we can consider higher targets on a bullish perspective.

Right now we are looking bearish.

Thanks a lot for your time.

Namaste.

Note

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BEING GRATEFUL IS WEALTH

Just cultivate the feeling of being grateful...

Saying thank you in front of the mirror over and over, every morning...

While you do it, think about all the good/positives in your life...

Allow time, plenty of time while repeating the same process...

And then just experience the results...

Being grateful is wealth!

Namaste.

Note

Note

Support is found next $9,400 followed by $9,300 short-term.
This is marked on the chart with blue dashed lines.

Note

If you would like to see Bitcoin on the daily timeframe, check the trade idea below | Bitcoin Is Giving Out Bearish Signals | Can Go Lower! |

Note

Sooner than expected...

Note

Sept. 21:

"This is all pointing to another drop.
The drop can be quick big and recover fast just as it can be short-lived and small...

Whatever happens, we believe that Bitcoin will bounce regardless of how low it goes."

Note

All support levels can be found here:

Bitcoin Weekly Important Support Levels | Fib. 0.786 ($5,441)

Note

On Binance EMA50 on the weekly was a perfect hit...

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