BTC (Prj.2019.P03.E10).What to look for going long
Updated
First - this is not my original idea however I agree.
There is a common trait when looking at the last bull run in 2017 and that had to do with 3 EMA\SMA's.
If you look at these 2 charts, you will see a sample from 2017 and today.
We have completed one section to meet this requirement which is the death cross. Now we need the other, which can be obtained by a nice healthy pull back.
Note: I drew in the potential ema\sma forecast as only a guess however the crossing of the lines is critical for going long.
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PS. The above chart is not drawn to scale, its only drawn to demonstrate the idea and what to look for, that is the green line and the potential bounce\support of it.
O yeh, what are these ema\sma's, ema=50 and 200, sma=200.
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There is a common trait when looking at the last bull run in 2017 and that had to do with 3 EMA\SMA's.
If you look at these 2 charts, you will see a sample from 2017 and today.
We have completed one section to meet this requirement which is the death cross. Now we need the other, which can be obtained by a nice healthy pull back.
Note: I drew in the potential ema\sma forecast as only a guess however the crossing of the lines is critical for going long.
************************************
PS. The above chart is not drawn to scale, its only drawn to demonstrate the idea and what to look for, that is the green line and the potential bounce\support of it.
O yeh, what are these ema\sma's, ema=50 and 200, sma=200.
************************************
Note
Sometimes it just squashes the chart, hence I'm adding this.Note
Note
Notice where the price levels are, all mapped based on fib. pitchfork.Note
The appearance of a morning starNote
Patience is a hard thing. This 12K level is critical and no-one knows which way...and this pattern doesn't help either 50/50 on the 5 min. The bearish version is that we will revisit the red zone, which was a strong resistance to become strong support. One guy I listen too on youtube says that alot of FOMO's are coming in which makes it more susceptible to a dumb. Also the 12K mark is the 0.618 fib level on the MACRO level.
The bullish version is 13K with initial target 12.5k but we need more volume for a decisive move to hold it up.
If you bought and help from a lower price, that's good however where is the new money going to come from to that volume at such a resistance. The only way I know is it to drop, and for those who sold at 12K will come back in.
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This community has signals now but with no risk management comms.
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