Bitcoin Heading Lower to Re-Test $19,500 and Likely Break Lower
BTC is rolling over just as I drew on my charts last week and during our live Wednesday class.
We have a Bearish ERI signal (Custom) on the daily and our Trend Strength Indicator (TSI) is also rolling over printing a Red reversal signal.
Will be interesting to see how the weekly chart closes tomorrow.
For now, looks like we're heading lower and I would expect to see a drop to around the 17K level for a bounce, but ultimately looking for a bigger drop to the 400 Week Moving Average around $12,500 and the possibility of a capitulation to down to $10,000 or even $9750 where the last remaining unfilled CME gap is located.
Let me know what you think?
We have a Bearish ERI signal (Custom) on the daily and our Trend Strength Indicator (TSI) is also rolling over printing a Red reversal signal.
Will be interesting to see how the weekly chart closes tomorrow.
For now, looks like we're heading lower and I would expect to see a drop to around the 17K level for a bounce, but ultimately looking for a bigger drop to the 400 Week Moving Average around $12,500 and the possibility of a capitulation to down to $10,000 or even $9750 where the last remaining unfilled CME gap is located.
Let me know what you think?
25-year investor & trader, bought 1st BTC at $20
More information:
Moonstream Crypto: moonstream.io
M3 Active Trader: Moonstream.io/M3
Trading Signals: CryptoMastery.org/pro
Work With Me 1:1
moonstream.io/work-with-me
More information:
Moonstream Crypto: moonstream.io
M3 Active Trader: Moonstream.io/M3
Trading Signals: CryptoMastery.org/pro
Work With Me 1:1
moonstream.io/work-with-me
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