BITCOIN Watch out for the MA's!!
What's up everyone! 😃
Here I want to look closely at the MA 20 and the MA 25 on the weekly chart. As we can see they are moving towards another, which is a very dangerous sign. If they would be to cross it could be the end for any hope in a bullish reversal. I drew an orange circle around the area where the MA 25 was above the MA 20 on the weekly chart the very last time, and as we can see we ralied from then on.
I also circled in orange where we are right now, and as you can see, it's looking dangerous.
When it comes to the H&S pattern which i've been talking about since early in december, we almost had another crossing of the MA's but BTC started to rally and the MA 20 stayed Above the MA 25 instead. Also marked with another orang ecircle, you can see that this happened at a very similar moment, Right after completing the right shoulder and right before rallying.
So if BTC repeats recent history, a rally could be near, if the MA's cross however, it's not looking good.
The other MA's or moving averages of the EMA RIbbon, BTC closed below on the weekly for the first time in a very long time also.
I spoke about that in MY VIDEO🎬 from last week:
I will go into more detail about THE FUTURE OF BITCOIN on different charts in my UPCOMING VIDEO 🎬, so look out for the MA 20 and 25 on the weekly chart BUT also for THE video 😁😉
If the post was worth your time guys,
any ♥ in the form of engagement, follows and feedback are very much appreciated!
Happy Trading! ✌❤📈
Here I want to look closely at the MA 20 and the MA 25 on the weekly chart. As we can see they are moving towards another, which is a very dangerous sign. If they would be to cross it could be the end for any hope in a bullish reversal. I drew an orange circle around the area where the MA 25 was above the MA 20 on the weekly chart the very last time, and as we can see we ralied from then on.
I also circled in orange where we are right now, and as you can see, it's looking dangerous.
When it comes to the H&S pattern which i've been talking about since early in december, we almost had another crossing of the MA's but BTC started to rally and the MA 20 stayed Above the MA 25 instead. Also marked with another orang ecircle, you can see that this happened at a very similar moment, Right after completing the right shoulder and right before rallying.
So if BTC repeats recent history, a rally could be near, if the MA's cross however, it's not looking good.
The other MA's or moving averages of the EMA RIbbon, BTC closed below on the weekly for the first time in a very long time also.
I spoke about that in MY VIDEO🎬 from last week:
I will go into more detail about THE FUTURE OF BITCOIN on different charts in my UPCOMING VIDEO 🎬, so look out for the MA 20 and 25 on the weekly chart BUT also for THE video 😁😉
If the post was worth your time guys,
any ♥ in the form of engagement, follows and feedback are very much appreciated!
Happy Trading! ✌❤📈
Related publications
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.