dragononcrypto
Short

BTC1!: Bitcoin Futures Confirms 100 & 200 Day Bear Cross

CME:BTC1!   Bitcoin CME Futures
While remaining neutral-bearish on the BTCUSD charts, BTC1! is looking like a shorting opportunity. There is notably an increase in buying volume over the past week, however the largest volume day was when price was rejected by both the 100 & 200 Day MA simultaneously.

Needless to say, the bear channel resistance is lined up with this MA bear-cross. With the market now closed for the weekend, I'd anticipate some sideways trading while anticipating confirmation of rejection from the bear-cross, ideally between February 5th-11th before breaking down to mid $5K area.

Note, chart posting around the $8K price mark, notably after the close of futures trading at $8,125.

This TA is a follow up from the fractal that didn't occur as expected (time-wise) but did reach it's intended target around $8,500 (price), with the expected outcome remains downside to similar levels :


February 5th-11th 2020 - The Next Swing Low:


Network Hash Gives 10th Buy Signal In 9 Years:


Extrapolating 2014 Correction - Could $6,500 Be The Low?


Two & Four Year MA's Claim It's Time To Accumulate:

Jan 14
Order cancelled: Broke out too soon for the fractal to play out. Unless the Day closes below the MAs, the trade doesn't exist.
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