The same pattern we've been spotting on the Altcoins vs Bitcoin trading pairs that are growing really strong, is also coming up but late on the BTCUSD chart.
Please, allow me to entertain you for a few minutes...
First, we have a low set 12-May followed by a lower low 18-June. This is accompained by a strong increase in trading volume.
We also get divergence with the indicators, in this case we have the RSI but the MACD, Stochastic and others would also show the same bullish divergence.
After this initial pattern what follows is a break above EMA10 and then finally a jump that sends prices as high as EMA300/MA200 or higher based on what we are seeing coming from other charts.
This is all there is... Patience is key.
Namaste.
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I will share a new trade idea soon with an update about the bottom...
You can revisit these meanwhile...
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Notice the long lower shadow/wick on the last candle...
moonboys dreams.. that could cause that big pump to 36k-37k i not see reason for a big pump.. maybe other more trap to 22k-23k.... to catch more money of moonboys..
Bitgolder
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@geekpe, No no no, the only trap I see is this Epic months long Bear trap that just happened and the silly ones that sold the bottom hoping for 5k 10k BTC are a little salty now that their scenario isn't playing out. Us moonboys bought your bags cheap and we'll sell you our bags again at the top! Fact!
BallsOfSteel32
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@Bitgolder, we are just retesting 2017 high before never revisiting it again.
Yo_son
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@geekpe, I'm with you buddy. I think buying any crypto asset in current conditions is pure hopeium. Moonboys about to get rekt. I will be waiting for a DEFINATE bottom and a retest of that bottom. Then I'll decide if i wanna go long. For now, I think I will short BTC until bottom, or restest of 13k support.