$BTC.D - 100 EMA acting as a resistance. Alts to fly?
100 EMA acting as a strong resistance for the past 13 months. Hard to believe this will be the time it breaks.
There are a few patterns developing under the umbrella of that EMA. Looks like there's a triangle in there, bearish in this case):
Within the triangle a few things are to be noted: slanted triple bottom with triple divergence on RSI, Volume & Histo: but this has already played out into a final touch of the E wave of the triangle.
So we have to cases...Either we break out here and the market suffers for a long while... or correct down further and break down, which leads to the next alt season. I'm leaning towards the latter.
Happy and safe trades to all.
There are a few patterns developing under the umbrella of that EMA. Looks like there's a triangle in there, bearish in this case):
Within the triangle a few things are to be noted: slanted triple bottom with triple divergence on RSI, Volume & Histo: but this has already played out into a final touch of the E wave of the triangle.
So we have to cases...Either we break out here and the market suffers for a long while... or correct down further and break down, which leads to the next alt season. I'm leaning towards the latter.
Happy and safe trades to all.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.