KISS OF DEATH
Updated
Chart below showing the bullish and bearish outcomes,
The bullish outcome is if btc breaks above the 21ma with a daily candle close must close above 21ma
The bearish is very bad, if you all recall a year ago I explained what "Kiss of Death"was, it is when the price breaks below a moving average, creates a low, then price comes back up and kisses the moving average and then reverses and breaks below the low created, well we can clearly see btc has broken below 21ma, created a low being $60,771, then price rallied back up to the 21ma, and now currently struggling as its undecisive whether to break above 21ma or break back below 21ma, if breaks above then we have a bullish outcome, if heads back down and breaks the support zone of $60,771 then kiss of death will play out
The bullish outcome is if btc breaks above the 21ma with a daily candle close must close above 21ma
The bearish is very bad, if you all recall a year ago I explained what "Kiss of Death"was, it is when the price breaks below a moving average, creates a low, then price comes back up and kisses the moving average and then reverses and breaks below the low created, well we can clearly see btc has broken below 21ma, created a low being $60,771, then price rallied back up to the 21ma, and now currently struggling as its undecisive whether to break above 21ma or break back below 21ma, if breaks above then we have a bullish outcome, if heads back down and breaks the support zone of $60,771 then kiss of death will play out
Note
As we can see in the chart (link: tradingview.com/x/osxERB3X/)
BTC is battling between the bears and the bulls, its a battle zone between the daily 21ma (time of writing 21ma is sitting at $67,536) and the support being $60,771
If we zoom into this chart:
We can clearly see a bear flag (some call it Polar Bear Flag) which is when the support breaks then the asset class dips usually the length of the pole
So again we have 2 outcomes of this bull/bear clash, if breaks above the daily 21ma and must close the daily above 21ma then we have an extremely bullish outcome, OR.... if breaks below the bear flag we have extreme bearish week for traders
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