Bitcoin Can Easily Drop From Current Prices | $8320 Followed by

21 Jan 2020

Looking at Bitcoin on the 4H timeframe, the charts are saying that prices can easily move lower.

Right now EMA50 ($8602) is working as support while prices trade below EMA10 after a full red/bearish candle.

The indicators are bearish, RSI and MACD, while EMA100 and MA200 haven't been tested as support since early Jan.
If BTCUSD breaks below $8600 with good volume, we are likely to see $8320 followed by $7753.

Additional details can be found on the chart.
Feel free to leave a comment if you have any questions.

Thanks a lot for reading. :)

Namaste.

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New update: