Bitcoin | The Bears Take The Upper Hand (4H frame / short-term)
XBTUSD (Bitcoin) is now trading below MA200 and EMA200 on the 4H Timeframe, signaling that the bears are now gaining full control.
Prices have been slowly dropping since a peak was hit on the 13-Feb.
There is the possibility that this becomes a strong correction, the biggest one before the halving but this is yet to fully confirm.
So far we have a normal retrace and Bitcoin is still looking pretty strong. But the bears are gaining momentum, we remain bearish as long as prices continue moving below support.
Namaste.
Prices have been slowly dropping since a peak was hit on the 13-Feb.
There is the possibility that this becomes a strong correction, the biggest one before the halving but this is yet to fully confirm.
So far we have a normal retrace and Bitcoin is still looking pretty strong. But the bears are gaining momentum, we remain bearish as long as prices continue moving below support.
Namaste.
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