Bitcoin (2020-01-25) Accumulation above 200 DEMA + Parabola
Updated
- I would have at least 25-33% of speculative funds in a HODL position in case Bitcoin goes parabolic due to world fears of Coronavirus and upcoming Halvening.
- Potential parabolic line is being formed.
- Demand is buying up supply above the 200 Daily Exponential Moving Average and not piercing through it.
- Bear Volume is decreasing as price is declining = Bullish Divergence... speculators are waiting to buy at lower prices (hence lower trade volume), but institutional investors may be front-running the expected drop by most traders.
- Break of Parabolic Line and 200 DEMA will invalidate Bullish Analysis!
Trade closed manually
Took profits. CME Gap may need to be filled below at $8,530
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