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Skywalker

BITCOIN and the 800 EMA- What You should know!Padawans, Bitcoin has been reacting to the 800 Ema since the 24th of January 2022. Most people like to use the 50, 100, 200 day MA`s or EMA`s. However I like to use the 800 day EMA. On the 9th of April 2024, Bitcoin broke the trendline formed on February 24th, it retested that trendline Yesterday on the 10th of April and was rejected. However what I want you to take note of something: If we take a look at the chart we will notice on the 24th of January we had a test of the 800 EMA followed by the evaporation of selling pressure followed by a move to the upside resulting in a green candle On the 24th of February again there was move downwards towards the 800 day EMA, followed by the evaporation of selling pressure followed by a move to the upside resulting in a green candle and a new trendline being formed Take note that with each of the above mentioned events we are forming Higher Highs So what Am I Looking For First a test a retrace to $38735, which is 0.236 of the Fibs and also a convergence at that point with the downward trendline Then I am looking for a wick to make a move downwards towards the 800 ema and if the same confluence of events happen as happened on the 24th of January and 24th of February then, in my mind you will have confirmation of the resumption of an uptrend and is this happens Padawan- Hand me my Lightsaber
by Skywalker-thelastjedi
4
The Meridian trench approach - something completely different!So, in a galaxy far, far away. Luke Skywalker is in his X-wing and he is approaching the Death Star. Lots of X-wings, A-wings, Y-wings, TIE fighters and TIE interceptors swerving around. The fight is on for some time now. He has to get to the Meridian trench. The Meridian trench is the only approach to the thermal exhaust port - if weaponry was fired into it, the exhaust port would cause the Death Star to under go a critical chain reaction. Luke Skywalker is in the Meridian trench as we speak, and three TIE interceptors follow him closely. One of these TIEs is flown by Darth Vader himself. Luke's shields are down, he transferred all of the X-wings energy into the engines, the laser guns are not working, R2D2 is beeping out something completely crazy, and he has only two proton torpedoes left for the thermal exhaust port. So, back to the real crypto world, this bull run looks a lot like getting down to the Meridian trench. The ride is not easy. many bumps on the road. After some time, all technical analysis is just nonsense. Yes, many divergences on the road, many unfilled CME gaps, but at this point, down in the Meridian trench, all TA looks like a bunch of nonsense. It is also what experienced traders say - last third of the bull run is just non predictable. The question is, are you Luke Skywalker? Are you sitting out until the end of the Meridian trench, or you bailed out with the arrival of the first TIEs? Maybe you skipped to the Dark side, and already placed some short orders on our beloved BTC! I bailed out on 17,600, it was a nice ride, made some money, my rational brain told me it was a good place to put the stop loss. Now I feel, hmmm, normal again? I will sleep well again. It was a new experience for me also. A bit stressful I have to say. In the end, does a couple of hundreds or thousands more or less really count? Maybe what it counts is staying with it till the end. Making sure the torpedoes are in the thermal shaft. Maybe thats what this experience is about. Im interested, are you still in, you bailed out? At what price? Where do you think it is going now? If you are still reading up to this point, thank you for the attention. To any Luke Skywalker out there, may the Force be with you! "You must maneuver straight in down this shaft, level off in the trench, and skim the surface to this point. The target is only two meters across. It will take a precise hit at exactly ninety degrees to reach the reactor systematization. And only a direct hit will start the complete reaction." ―Rebel Alliance General Jan Dodonna
COINBASE:BTCUSDLong
by flyfreebaby