Bitcoin lower as expected to 8974
|Bitcoin lower as expected to 8974. A small bounce holds resistance at 9360/30 so the outlook remains negative. Gains are likely to be limited but above here targets resistance at 9440/60 before the 4 month trend line which has dropped to 9640/60. A high for the day likely. Try shorts with stops above 9500. A break higher is a buy signal targeting 9900/1000.
First support for at 9140/9110 but longs are risky in the bear trend & we are expected to trade lower eventually. A break below the 100 day moving average at 8890/70 is a sell signal targeting minor support at 8650/8600. We may pause here but it is not a buying opportunity & further losses are expected eventually.
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