Bitcoin Aims Lower While Still Strong

6 oct. 2020

Bitcoin (BTCUSD) has been doing some sideways consolidation with bearish tendencies.

Even though prices are aiming lower, the BTCUSD pair remains very strong.

Prices can drop 1000 points, 2000 points and still we have a bullish trend and Bitcoin.

Do not get lost in the noise (short-term moves).

Back to the chart to the signals

1) We have the RSI trending lower.
2) Prices moving below EMA300/200/100/50/10
3) The MACD is showing a young bearish cross.

Expect lower prices.

Conditions for change
If Bitcoin (BTCUSD) moves and closes above the EMAs and orange trendline, this analysis is invalidated.

Namaste.

8 oct. 2020

Note

Bitcoin breaks bullish...