Bitcoin Daily | Aiming At $9850 Followed by $9370

Bitcoin wasn't able to stay above EMA50 on the daily timeframe... This can signal lower prices.

EMA50 is a strong indicator when it comes to BTCUSD and the 1-day chart...
Support is found now at $10489 or EMA100.

Below EMA100 we will see a stronger drop.

Will Bitcoin bounce from the EMA100 support or keep on going lower?

We have increasing bear volume today but still low... So, how can we tell if prices will bounce or not?

We can look at our indicators to get some clues.

• The MACD is trading below the zero line, which is bearish and also trending lower... Looks like it is about to print a bearish cross.
  
• The RSI is still good/solid at 44+ but also trending lower, printing lower highs since the 1st of August.
  Our next target is set at $9850 followed by $9370.
  
  Conditions for change
  If prices move back up and stay above EMA50, the above signals can easily be invalidated and the bearish potential is lost.
  
  For now, the bears are starting to gain strength, so we remain bearish on Bitcoin short-term and we go with the flow.
  
  Any questions?
  Share your thoughts in the comments section below.
  
  Namaste.

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