Bitcoin Continues Lower, $8950 Next? Support & Resistance Mapped

21 Feb 2020

We have a bearish inside bar for BTCUSD (Bitcoin) with bearish indicators... Prices can continue to drop.

If Bitcoin fails to move back above EMA10 ($9811.3), prices are likely to move lower.

The first support we look for is sitting at $9167 or EMA50. Followed by $8864 or MA200.

Additional levels are marked on the chart.

Conditions for change
If Bitcoin reverses and closes above EMA10, resistance can be found in the $9,900 - $10,000 price range, followed by $10,300-10,500... These levels need to be broken for Bitcoin to hit new highs.

Thanks a lot for reading.

Namaste.

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Catatan

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