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Bitcoin Drops! Can Bulls Make a Comeback?

workin2005Posted for Everyone to comment on, 2 years ago2 min read

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In my last update we discussed the real possibility of bitcoin breaking down to test $9,950 (0.618 fib), where I said to expect a decent bounce. Price has since done just that, bouncing right below $9,950 and currently trading around $10,500. If you took that scalp trade, congratulations!

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Price has broken below the 21 day EMA. It found support right on the 50 day MA.

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In today’s video we’ll discuss where price may be going from here, key areas to watch, price targets, and so much more. I’ll also answer some of your questions. I hope you find it helpful.

Video Analysis:


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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by Workin2005


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