Hello friends,
I must apologize for my last post. I expected a dump at the 21 weekly moving average, but in the end it was a breakout to the upside. Still stuff like this is part of the game and we keep on trading to gain more than we lose. With the last pump you notice that Bitcoin stopped at an important level called the 0.618 Fibonacci Retracement. Besides...
Hello friends,
If we look at the 21 weekly moving avarage on the daily timeframe (21 x 7 = 147) we notice that the 21 weekly moving avarage is keeping the Bitcoin price down. In the current bearmarket it's very unlikely for Bitcoin to break this trendline. Buy your shorts today and party tomorrow!
Much love,
Nafasion
Hey guys,
Overall I'm very bullish on Bitcoin on the longterm (fundamentals are great), but at the shortterm we are still in a bearmarket. The 21 weekly moving average is pushing Bitcoin down and the support is weak. Besides that we are oversold on the stoch RSI. Expect a drop in this week or the next. That's all for today.
Much love,
Nafasion
