Bitcoin is currently sitting at $10,230 USD. It's been a rough couple of days and despite the fact that we were closing the gap between the 10 and 50 day moving averages, right now we want to be seeing a build up... the price needs to move up and get the 10 day moving up again or we're likely going to see another drop.
The chart looks rather bearish at the moment. We are sitting in the lower band and the price has already touched former support lines down around $10,150 USD.
The 50 day MA has rounded out and is moving down. This can be good IF the 10 day MA is moving up along with our current price, but sadly we're not seeing that.
The 10 day MA is flat and our price has been moving down over the last 4 or 5 days. This is bearish. In the past when we have seen this kind of look from our indicators BTC price moves down. Let's hope that is not the case and the price begins to push up soon!
We would need to see prices move up consecutively over the next few days to turn this around. Breaking $10K would be a huge blow, but possibly a last chance to accumulate at that level... so be ready!
Keep watching the charts! 馃搱
Please note : this is opinion and should not be taken as financial advice.
