BTCUSD Weak to Strong Hands In Progress
Evening everyone. Quick bitcoin top to bottom…
-Price is trading well below the 50 SMA = bearish
-50 SMA crossed the 147 SMA which is roughly the 21 week SMA = bearish
-50 SMA pointed solidly downward = bearish
-Price is trading below the 200 SMA = bearish
-MACD histogram is still red = bearish
-MACD fast average still under the slow average = bearish
-5RSI crossed downward around September 16th and hasn’t come up for air = bearish
It isn’t all doom and gloom but I hope you aren’t trying to catch a falling knife. Ya know. Like I used to.
Good news…
-From swing low of December to swing high of June we’re approaching the .618 retracement. Nothing magic about it, could go lower than $7251.6, but damn…how much lower? Until buyers and sellers agree on a price!!
-Halving is on the horizon. I’m a Bitcoin bull as you can see in every other post, but I’m fine with this going back to where it started its run. The lower it goes, the higher the multiples will be in the frontrunning of halving that is likely to occur. Go to 6k. Go to 3k. Try me on for size, Bitcoin.
A quick shout out to MattDelong who gifted us the PET-D indicator. If you take the green arrows above the 50 SMA and the red arrows below the 50 SMA you stand a good chance of making some money. Try it out and give his indicator a like.
Also take a look at the cycle work of Dr. Charles Nenner of Nenner Research. He’s been spot on for the couple years I’ve followed him and his cycle data has saved and made me untold sums in trading and investing. If you’re only looking at crypto right now you’re missing the boat. Yuuuuge cyclical moves await us. Go make some money.
-Price is trading well below the 50 SMA = bearish
-50 SMA crossed the 147 SMA which is roughly the 21 week SMA = bearish
-50 SMA pointed solidly downward = bearish
-Price is trading below the 200 SMA = bearish
-MACD histogram is still red = bearish
-MACD fast average still under the slow average = bearish
-5RSI crossed downward around September 16th and hasn’t come up for air = bearish
It isn’t all doom and gloom but I hope you aren’t trying to catch a falling knife. Ya know. Like I used to.
Good news…
-From swing low of December to swing high of June we’re approaching the .618 retracement. Nothing magic about it, could go lower than $7251.6, but damn…how much lower? Until buyers and sellers agree on a price!!
-Halving is on the horizon. I’m a Bitcoin bull as you can see in every other post, but I’m fine with this going back to where it started its run. The lower it goes, the higher the multiples will be in the frontrunning of halving that is likely to occur. Go to 6k. Go to 3k. Try me on for size, Bitcoin.
A quick shout out to MattDelong who gifted us the PET-D indicator. If you take the green arrows above the 50 SMA and the red arrows below the 50 SMA you stand a good chance of making some money. Try it out and give his indicator a like.
Also take a look at the cycle work of Dr. Charles Nenner of Nenner Research. He’s been spot on for the couple years I’ve followed him and his cycle data has saved and made me untold sums in trading and investing. If you’re only looking at crypto right now you’re missing the boat. Yuuuuge cyclical moves await us. Go make some money.
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