Bitcoin Moves Below EMA50 | Weekly Timeframe

The weekly candle for Bitcoin (BTCUSD) closes in less than 1 hour and prices are starting to move below EMA50... This can lead to an additional drop.

If EMA50 ($8242) fails to hold as support, BTCUSD is very likely to move lower and hit $7414 or EMA100.
The indicators are bearish and last week's candle is a full bearish one.

Here is the previous analysis | Feb 28 - Bitcoin Will Bounce After This Happens...

Feb 26 - Can't Say You Weren't Warned... Bitcoin Going To $5,000?

What's your take?
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Namaste.

הערה:

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🅱️ Bitcoin Monthly | Before ($5K) & After Halving ($31K) 2020

Here you can find the LONG-TERM path for Bitcoin and how it reaches $20,000 after the 2020 halving event... It can even go higher and hit a new ATH over $48,000... More details on the chart!