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Bitcoin Potential Drop to $7600-$7700 (Short Term Analysis)

By AlanSantana
Updated
Looking at Bitcoin (BTCUSD) on the 1H Time Frame, a drop is already in place:

  • Trading below EMA10 and EMA50.
  • Challenging EMA100 to the downside.
  • Gaining momentum.
  • Indicators bearish.
  • Volume coming in.


    • We are looking for support around EMA200 or $7800 first, followed by $7700 and finally $7600. This is a short term analysis.

      Conditions for change: If BTCUSD can remain above $7900, move up and close above EMA10, the above signals become invalid and a new analysis is needed. As long as BTCUSD remains below EMA10 and EMA50 the bearish potential remains.

      Thanks a lot for reading.

      Remember to hit like.

      Namaste.
Note
"Conditions for change: If BTCUSD can remain above $7900, move up and close above EMA10, the above signals become invalid and a new analysis is needed. As long as BTCUSD remains below EMA10 and EMA50 the bearish potential remains. "

Moving up:
Bitcoin Volume Going Lower, Breakout Next?
Note
Bitcoin Continues Going Higher & Higher...

Bitcoin Continues Going Higher & Higher ($11,660 Next?)
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