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?

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