September Bitcoin closed the month with a bearish candle.
We have a lower high compared to June and we continue to see lower and lower volume.
I've been sounding the alarm since early August and now it is very clear that Bitcoin is going lower.
BitMEX is being sued and some people will say that this is the cause of the drop...
This is surely a catalyst and a factor but the charts have been pointing to a lower Bitcoin for 2 months now.
Getting back to TA and my original EMAs analysis... Bitcoin can go as low as $5,472 or lower... I won't detail the analysis now but we wait and see.
EMA10 is to be tested for sure at $9850... But I see even lower prices.
What's your take on Bitcoin's next move?
Are you still bullish on Bitcoin or do you believe now that a correction is necessary and prices will continue to drop?
Feel free to share with us in the comments section below.
I am in favor of Bitcoin, I love Bitcoin and Cryptocurrency but this doesn't make me blind to the fact that prices peaked a while back and we were expecting this drop.
What Will Happen To The Altcoins & Altcoins Market In General?
Leave a like and a comment if you would like to know my view and I will publish a new trade idea with my altcoins market analysis and how it will behave/react if Bitcoin continues going lower.
Thanks a lot for your continued support.
Namaste.
Commentaire
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🅱️ Bitcoin Daily | Aiming At $9850 Followed by $9370
Have to see if we are going to repeat the historic bullrun after every halving , there’s so much of liquidity , we could drop till 10,300 fill the gap later , have to see, if history repeats we are heading towards 20K zone and then the market decides .
Nice chart as always . Om shanthi
AlanSantana
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@sriz16, 🙏🏼🙏🏼 Based on my EMAs analysis, if BTCUSD breaks below EMA10 monthly, we will see $6700 at the least.
Namaste.
sriz16
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@alanmasters, Thank you .
CryptoSharknado
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I would love if you did an analysis of the altcoin market behavior in regards to these movements, but yeah i agree a tumble is in order here, we might see a push up to 11100, but i expect a dip soon, I'm looking around 9100, but i definitely see reasons for 7k levels. I don't believe we test 5500's until next year, but i value your TA and I don't doubt it's a distinct possibility to see a full 50% retrace, even as low as 4400's. The quarterly close is fairly optimistic though and there are reasons to think we may test the yearly candle level around 13800, so hopefully it is quick and snappy.
AlanSantana
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@CryptoSharknado, Thanks a lot for the details and added perspective.
I will be sharing my view of the altcoins later on today or tomorrow.
Namaste.
CryptoSharknado
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@alanmasters, thank you 🙏
rtm2k
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@alanmasters, thanks! I’ll wait for it.
Great work as always!!!
Hungryman34
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similar thoughts but shown on the weekly
AlanSantana
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@Hungryman34, Thanks a lot for sharing... Adding a few more details to your analysis would make it a bit more entertaining.
Namaste.
MasterPlayer
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you still dream about it
take your horse out of the rain
wait seated
when you wake up you will see the BTC at $ 25000 looking for a target of $ 50,000
Nice chart as always . Om shanthi