Bitcoin broke below 71,000 dollars overnight and fell to a 12 week low near 70,238 dollars. The 71,238 support that held all week is gone. 📉
CoinGecko data checked at 08:00 PKT on 13 November puts Bitcoin near 70,238 dollars, down 4.77 percent in 24 hours and down 6.96 percent in seven days, with the last five half hour closes sliding lower, 71,156, then 71,057, then 71,079, then 70,892, then 70,471. 📊 The 200 day moving average near 73,137 dollars is now far above price, the daily RSI reads 29.5, deep in oversold, and BraveNewCoin reports more than 550 billion dollars has vanished from the crypto market since the October highs. My reading is that this is no longer a dip inside a range, because Bitcoin closed below its 20, 50 and 200 day moving averages and the next real level is the round 70,000 dollars.
Does 70,000 hold into the US session, or does Bitcoin open the door to 65,000 dollars? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinPrice
CoinGecko data checked at 08:00 PKT on 13 November puts Bitcoin near 70,238 dollars, down 4.77 percent in 24 hours and down 6.96 percent in seven days, with the last five half hour closes sliding lower, 71,156, then 71,057, then 71,079, then 70,892, then 70,471. 📊 The 200 day moving average near 73,137 dollars is now far above price, the daily RSI reads 29.5, deep in oversold, and BraveNewCoin reports more than 550 billion dollars has vanished from the crypto market since the October highs. My reading is that this is no longer a dip inside a range, because Bitcoin closed below its 20, 50 and 200 day moving averages and the next real level is the round 70,000 dollars.
Does 70,000 hold into the US session, or does Bitcoin open the door to 65,000 dollars? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinPrice
