Quantifying MACD crossover drops - BTC
History has it that BTC drops around 33- 38% on every MACD downward tangent crossover till date. Using a Fibonacci we get a retracement level at around 3190 USD closest to that level which is also where the SMA 100 sits at the moment. Seeing how ADX can behave I think the move will take around 14-20 days give or take, a majority of the month might be spent in the downtrend.
Hope a reversal comes on the charts in the upcoming days, till then bearish it is.
Hope a reversal comes on the charts in the upcoming days, till then bearish it is.
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