BitcoinShort
Confirmations on Bitcoin taking a breather
Looking at a follow up on a previously posted idea, we can seen multiple confirmations on Bitcoin consolidating.
Based on analyses of historical cycles, we are now looking for a significant spike in selling pressure to indicate the bottom is in.
Looking at history, the main criteria I would still be looking for to enter long term buys:
- min of 2 uptrend touches/crosses of 50 day EMA to 200 day EMA .
- Spike in volume correlating with lowest low in bearish trend .
In this post I am only sharing my observations and personal opinion. This is not trading advice.
I'd love to get your opinions and thoughts in the comments. Please like the post if you appreciate the analysis
Based on analyses of historical cycles, we are now looking for a significant spike in selling pressure to indicate the bottom is in.
Looking at history, the main criteria I would still be looking for to enter long term buys:
- min of 2 uptrend touches/crosses of 50 day EMA to 200 day EMA .
- Spike in volume correlating with lowest low in bearish trend .
In this post I am only sharing my observations and personal opinion. This is not trading advice.
I'd love to get your opinions and thoughts in the comments. Please like the post if you appreciate the analysis
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