Long
Going for gold on Bitcoin Gold
Updated
Bullish on Bitcoin Gold.
Firstly, I look at the point of control and I have tears of joy. The smart money has bought in, so I didn't catch the exact bottom...but relatively close to it still.
That high volume we just broke out of is a signal that it is now going to act as support on the retrace. It should be smooth sailing till $110, with a minor bump at around $75-80. If $110 is successfully broken, I imagine it'll go straight to moonville.
Next...trend is friend: Successfully broke out of Ichimoku cloud with lagging span (extremely low opacity cyan line) about to confirm. 200EMA (50EMA daily) broken and closed above. 50 EMA crossed 100 and it looks like in a few days it will cross the 200 (golden cross).
I'm not including any actual indicators because everything is saying overbought except the three day. This is not the case, it's mostly because of the BTC movement skewing indicators due to the pump in the last few days after a lengthy bearish period.
Furthermore, some info not on the chart: it just broke out of a massive descending wedge on the bitcoin pair. Bitcoin Cash just started pumping, I guess that means something. ;-)
"Good luck"
Firstly, I look at the point of control and I have tears of joy. The smart money has bought in, so I didn't catch the exact bottom...but relatively close to it still.
That high volume we just broke out of is a signal that it is now going to act as support on the retrace. It should be smooth sailing till $110, with a minor bump at around $75-80. If $110 is successfully broken, I imagine it'll go straight to moonville.
Next...trend is friend: Successfully broke out of Ichimoku cloud with lagging span (extremely low opacity cyan line) about to confirm. 200EMA (50EMA daily) broken and closed above. 50 EMA crossed 100 and it looks like in a few days it will cross the 200 (golden cross).
I'm not including any actual indicators because everything is saying overbought except the three day. This is not the case, it's mostly because of the BTC movement skewing indicators due to the pump in the last few days after a lengthy bearish period.
Furthermore, some info not on the chart: it just broke out of a massive descending wedge on the bitcoin pair. Bitcoin Cash just started pumping, I guess that means something. ;-)
"Good luck"
Note
Here is the relevant BTC chart; wedge broken.Note
We moon now.Note
May have been invalidated by BTC...I exited my position a while ago but thinking of re entering most here.
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