Higher highs? BULLTRAP? Golden crosses!
Hey there,
so this is a pretty important post right here.
Leave a like, commend and share this post! Also follow me, if you don't want to miss out!
As many of you migh already know, we had the cross (golden cross) of the 200
and 50 MA on the daily chart coming and it happened today.
More or less surprisingly, we saw the price ralley strongly to the upside.
We are now again above 10K and are getting a bit overbought on the smaller
timeframes, but nothing too scary.
The golden crosses of the 50/200 and 100/200 have been very bullish signals for
Bitcoins price in the past, and could play an important role in the future.
Price rallyed significantly from these golden crosses.
These signals are though of even more important value, if both moving averages
are heading into the same direction (up or down) while they are crossing.
Only then is a true bullish signal given, imo.
The bull flags on the daily also where very nice buying areas and still seem to be.
There is though still the posibilty for this second ralley over 10K to be a bulltrap
and to trap all the bulls, thinking Bitcoin is going to 12K.
A breach above the last high and a further sharp 10% drop could signals a bulltrap
and would be a concerning factor to me.
So keep your eyes and minds open!
Definitely follow me on social media and especially my YouTube channel:
YT: Enlightened Trading
Instagram: enlightened_trading_
Cheers,
Konrad
so this is a pretty important post right here.
Leave a like, commend and share this post! Also follow me, if you don't want to miss out!
As many of you migh already know, we had the cross (golden cross) of the 200
and 50 MA on the daily chart coming and it happened today.
More or less surprisingly, we saw the price ralley strongly to the upside.
We are now again above 10K and are getting a bit overbought on the smaller
timeframes, but nothing too scary.
The golden crosses of the 50/200 and 100/200 have been very bullish signals for
Bitcoins price in the past, and could play an important role in the future.
Price rallyed significantly from these golden crosses.
These signals are though of even more important value, if both moving averages
are heading into the same direction (up or down) while they are crossing.
Only then is a true bullish signal given, imo.
The bull flags on the daily also where very nice buying areas and still seem to be.
There is though still the posibilty for this second ralley over 10K to be a bulltrap
and to trap all the bulls, thinking Bitcoin is going to 12K.
A breach above the last high and a further sharp 10% drop could signals a bulltrap
and would be a concerning factor to me.
So keep your eyes and minds open!
Definitely follow me on social media and especially my YouTube channel:
YT: Enlightened Trading
Instagram: enlightened_trading_
Cheers,
Konrad
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