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

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.

Commentaire:

"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:

Commentaire:

Bitcoin Continues Going Higher & Higher...