Bitcoin Weekly Also Closes Below EMA50
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
EMA50 is a strong indicator on the daily timeframe for Bitcoin /Crypto… It gives out a signal 7 times stronger on the weekly timeframe .
Bitcoin closed last week below EMA50 losing a strong support.
The volume is non-existent now… It turns like this before a strong move takes place.
There can still be some “snake” action like we see late 2019 – Q1 2020… or between April and November 2018…
But these signals are telling us of a potential price drop (fairly strong).
How far down will it go?
It doesn’t matter… It will move back up.
Namaste.
