Bitcoin Weekly Also Closes Below EMA50

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

AlanSantana

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.

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