Bitcoin Technical Analysis: QUICK UPDATE
Bitcoin broke below the $3,600 support (on Coinbase). It’s now testing the prior order block between $3,580 and $3,540. Should this break down decisively (4hr candel opening and closing below), I believe a drop to $3,400 will become likely.
Looking at the 4 hour chart, we can see the 8, 21 and 55 day EMA’s are converging with the 50 and 200 day MA. The Bollinger bands are also bottlenecking. This suggests a larger move may be coming in the next 24-48 hours.
In today’s video analysis I discuss where price may be heading next, traps to avoid and so much more. I hope you find it helpful.
Video Analysis:
- If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
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Have you seen EOS' uptick? I wonder if it will get crushed again by BTC dominance....
I have. Nice increase in volume as well. We’ll see. If btc drops, I think EOS will struggle to buck the trend. If BTC simply stagnates, I’m curious to see if EOS can push it’s way back above $5.