BitcoinLong
BTCUSD Flirting w/ 200 Daily MA
We crossed the 200 daily moving average and as previously mentioned could see a correction and retest of 200 MA before setting up for the final move in this wave.
Weiss signaled a sell just before midnight indicating a 2 - 4 day correction on the upward trend.
Possible scenarios are we go back to the .38 Fib Extension at around 42.430 and get a new buy signal setting us up for the races on the final stretch towards 58-59k. (Preferred)
Second option is the more uglier, that we get a few days choppy movement around the 200 MA, before going higher.
This is not a market I would be shorting, but waiting for a buy signal on the Weiss indicator.
Weiss signaled a sell just before midnight indicating a 2 - 4 day correction on the upward trend.
Possible scenarios are we go back to the .38 Fib Extension at around 42.430 and get a new buy signal setting us up for the races on the final stretch towards 58-59k. (Preferred)
Second option is the more uglier, that we get a few days choppy movement around the 200 MA, before going higher.
This is not a market I would be shorting, but waiting for a buy signal on the Weiss indicator.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.