Just posting this simple chart for my own records.
BTC has been holding the 50 day EMA (green line). Looking left, this has been a long/buy opportunity since mid January.
If we fail to hold our green line, it's probably a painful trip down to the blue line (200 day average).
Good luck! 🌝
BTC has been holding the 50 day EMA (green line). Looking left, this has been a long/buy opportunity since mid January.
If we fail to hold our green line, it's probably a painful trip down to the blue line (200 day average).
Good luck! 🌝
Comment:
Also, looks like hidden bullish divergence is starting to form now
Comment:
Price reversal from 50 day EMA within hours of posting this idea 🚀
looks like inverse head and shoulders is forming on the 4hr with support at the 20 day (red line)
pic is very busy, but again this is for my personal record 🙃
if BTC respects the TA, likely price action continuation to the upside 🤞🏾
looks like inverse head and shoulders is forming on the 4hr with support at the 20 day (red line)
pic is very busy, but again this is for my personal record 🙃
if BTC respects the TA, likely price action continuation to the upside 🤞🏾
Comment:
Nailed the glorious reversal. Next comes the boss level at all time high.
Comment:
All time high tested and broke out just as we expected. Next target is TP 1 around 6700-6800. I'm hoping we can reach TP1 or TP2 convincingly before a retest of ATH as support or the triple bearish divergence becomes a lot scarier.
Good luck!
Good luck!
Comment:
and this is what bearish divergence playing out looks like
if we follow the idea posted, the 50 day average (green line) is what we need to hold. This is a extremely critical moment for BTC.
Good luck!
Good luck!
Comment:
The bearish divergence proved to be very real and price looks to have failed to hold our 50 day MA. Things looking pretty bleak for BTC, we may test the 200 day and I have turned bearish short term.
Comment:
welp, just as we expected after breaking our support, BTC has fallen to the 200 day. With btc.d almost at all time low, this is the breaking point for btc to either prove itself or get pushed over. BTC shorts are skyrocketing with many betting against the granddady crypto. There is bullish divergence on the 4hr chart and we are oversold on the daily, but is it enough to reverse the down trend? As a swing trader I would personally LONG here, but failure to hold 200 day will likely confirm bear market for months at the least. Good luck!