BITCOIN (BTC) FALLING BY 2.06% AT $21,032
The bullish start to the day saw bitcoin rise to $ 21,856 before a decline.
Bitcoin broke the First Level of Great Resistance by $ 21,740 before the slide dropped to $ 20,971.
The conversion saw bitcoin drop with the First Level of Big Support at $ 21,055 to end the week at $ 21,032.
Bitcoin saw the results of Friday's NASDAQ 100 rally, with investors cautious ahead of Monday's opening.
Over the past week, the relationship between the NASDAQ 100 and bitcoin has grown stronger, and bitcoin will likely continue to track the NASDAQ in the near future. Meanwhile, the storms of bitcoin and the NASDAQ are always in tune.
At the time of writing, the NASDAQ 100 Mini was down 47.5 points.
Bitcoin Fear & Greed Index Drops in Response to Sunday Moves
This morning, the Fear & Greed Index dropped from 14/100 to 12/100.
Sitting deep in the “Extreme Fear” area, the latest pullback brings the sub-10/100 and the June 19th 6/10 drop in the play.
Investors will be looking for an increase of 25/100 and moving to the "Fear Zone" to boost the exit of bitcoin.
The Index last visited the “Terror Zone” on May 5th.
Bitcoin (BTC) Price action
At the time of writing, BTC is down 0.10% to $ 21,010.
A mixed start to the day saw BTC rise to an early $ 21,078 level before falling to a low of $ 20,975.
BTC has left the Support and Resistance Standards untested.
A BTC move with a $ 21,280 pivot will bring the First Level of Great Resistance to $ 21,605 and a Sunday high of $ 21,856 to play.
BTC will need a lot of support to get out of $ 21,500.
The extended meeting will test the Second Level of Resistance at $ 22,174 and resistance at $ 22,500. Third Major Resistance Level sits at $ 23,056.
Failure to pass the pivot will bring the First Big Support Level to $ 20,716 in play. In the event of another extended sale, bitcoin could test the Second Major Support Level at $ 20,403 and support up to $ 20,000.
The Third Level of Great Support remains at $ 19,516.
If you look at the EMAs and the 4 hour candlestick chart (below), it was a bearish signal. This morning, bitcoin sits below the 50-day EMA, currently $ 21,219.
The 50-day EMA has declined from the 100-day EMA. The 100-day EMA has been reduced from the 100-day EMA, the price of bitcoin is negative.
A refund of $ 22,000 will bring the 100-day EMA operation, currently at $ 22,520.
However, falling through the 50-day EMA makes the High Support Standards effective.