Update On The Previous Bitcoin Post
In my post from yesterday I mentioned that the bulls ran out of momentum and some bearish signs appeared. Usually a sideways movement with a declining volume is a early sign for a crash. I hope nobody got burned :)
Bitcoin daily
The 0.5 Fibonacci retracement support level was broken, we will probably reach the 0.382 at 3736$ (Bitfinex chart). There were early signs for this correction: bearish M on the histogram, bearish MACD cross and of course, the unusual sideways movement that signaled an imminent move.
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Moving Averages
The 21 day MA (yellow) was breached; we're currently finding support at the 100 day (red).
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4h chart
As soon as the lower triangle trend line failed and we started closing candles below it, it was just a matter of time..
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