Dear fellow traders. Earlier I posted similar chart and most of the people were complaining about only two crossovers. Here is a complete list. There has been 4 previous instances of weekly 50 moving average crossing above weekly 50 EMA, on each of the occasions, bitcoin corrected heavily. This is the 5th instance of the crossover now.
We are heading to sub 20k levels. Do not FOMO HERE!. It is a matter of time. I am an investor, not a trader.
It is not about if, it is about when? when will it hit 20k. It depends on what path bitcoin follows. It is not going to 100k till it hits 20k or even lower.
velizmd
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@kingpannu, Any chance it could hit 49k before collapsing to 20k?
Sub 20k seems a bit extreme given the amount of “hype” in this cycle no? I can’t imagine people would let it drop that low. Seems like any significant dip gets bought up rather quickly in this cycle