Bitcoin Prints A Bearish Signal, Time To Drop?

٢٠ يناير ٢٠٢٠

We saw the low volume coming in yesterday and took it as an indication that the bulls were likely to start losing control, we also have a falling wedge and my indicators started to turn...

Today, Bitcoin (BTCUSD) is moving lower.

Yesterday's candle gave out a strong bearish signal and EMA10 has been tested as support. Our next target is sitting at $8215 but Bitcoin is likely to test a $7935 which is EMA50 on this drop.

For prices to move higher, the purple trendline needs to be broken.
As long as this trendline is working as resistance, we aim lower.

Where do you think Bitcoin is headed next?
Watch how the altcoins continue to grow while Bitcoin retrace.

Thanks a lot for reading.

Namaste.

٢٠ يناير ٢٠٢٠

ملاحظة

Rising wedge, rather than falling wedge.