BCryptological
Short

NEWS: BTC lost support on 55 EMA - is the bull run over?

BITSTAMP:BTCUSD   Bitcoin / Dollar
Since the weekend, BTC had been in a range between the critical 21 and 55 exponential moving average - the latter coinciding with the 0.382 Fib retracement level, and just below the psychological $10,000 level.

In the last hour the 55 EMA has failed and we are left with three potential targets:
  • $8000 at the 100 Moving Average
  • $7400 at the 0.618 Fib retracement level
  • $6000 at the 200 Moving Average

Most of us would agree that BTC has the potential to go to $100,000 and beyond over the coming years. But these things take time and should take time. Let me know your thoughts below... where are we going to next?

Here is the link for my free EMA/SMA indicator, which you can see has proved invaluable to tracking the bull run of the last few months. As long as we stay above the daily 21 EMA = the bull run is in action. Once we drop below the daily 55 EMA = a strong indication the current bull run may be over. The 100 and 200 MA then step in as the strongest and most respected of long term support.

Also save crucial space on your Trading View chart by utilising my RSI and Stoch RSI free indicator which overlays both in a clear and helpful fashion.

Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
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