Short

191029 BTCUSD analysis. "I believe it is still falling."

Updated

Hello, my friends. It's Cryptoranger K.

A few days ago BTC surged. As a result, the shape of the chart is messy, so I cannot clearly see the direction of BTC in the future. The above chart is a 1-week chart. If you look at this chart, this week's candle is located below the 20day line now. Many of the other channels say that BTC will rise from now on, but I still think BTC is falling.

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(BTCUSD 2-Week Chart)

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Let's look at the BTC 2-week chart. If you look at the area marked 'B' in the MACD, it looks just before the Dead Cross is created. The MACD histogram is still talking about the decline. The 10-day MA line is also bent down. For this reason I still believe the BTC will fall.

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(BTCUSD 3-Week Chart)

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In the BTC 3-week chart, the 5 & 10 day MA lines created a dead cross. And the MACD line also seems to be turning down. The 3-week chart is a long-term chart. So given the fact that price flows rarely change direction, I expect this decline to continue.

However, different writings are coming from different channels, and I'm a bit embarrassed by the rise, so I can't be sure of the short-term direction of the BTC flow.

I think I was under a lot of stress this time. I said at that time that BTC would fall without rebound considering only the BTC price below the intersection. But after finishing the post, BTC went up nicely $ 3000. Usually I don't make any convictions or assertions, but looking back at me, I realized recently that I was too arrogant. Above all, I've been ashamed of the past two days because I thought it might have had a negative impact on my readers.

I'm going to take a break from my analysis for a week until I get the correct direction from BTC. And next week, if a new one-week candle is created below the 20-day line, I'll put the weight that BTC will fall.

I'd be sorry if my previous article made you make a mistake in trading.
I will try to be more humble in the chart analysis.

I hope you have a peaceful night and continue to protect your precious assets.
Thank you.

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ps. My opinion may be wrong. At the moment, however, I think the BTC flow is declining in the medium term.

Crypto_Ranger_K

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