Crypto to Watch - Bitcoin (BTC) - Breaking Down

in bitcoin •  5 years ago 

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Bitcoin is dropping here as it is breaking down. The volume is light and the Bears are in control.

There is no strong support here until it hits the 50 day moving average which is down at the $7700 level. There is some weak support at the $8200 level.

The RSI has turned down and the MACD has crossed Bearish.

I put the odds at 70-30 that the move will be lower.

STEEM is trying to hold the $0.15 level.

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5 years ago by

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      ·  5 years ago 

    4hr bullish divergence is forming, with some support around 8k-8.2k. Expecting a bounce there, but interested to see if that bounce will survive or if we'll head lower.

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        ·  5 years ago 

      thanks for the analysis. i agree with the support level. i hope we hold.

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