Similar Weekly cloud decision as 2018 for Bitcoin in December
We've broken the 200MA on the daily (yellow line) for the second time. Unless the bulls come in and pump this thing back up above ~9300, we will close below it. As you can see in 2018, the second time the 200MA was lost, it wasn't regained until more than a year later.
The second chance for a reversal will come in December, Christmas week. BTC will need to decide -- above or below the weekly cloud. In 2018, there was little upside after the failed retest of the 200MA. That retest was about a month before a dribble mostly down into the cloud.
On Sunday, we say a failed retest of the 200MA on that pump to 9200. Was that the 2019 top? We shall find out!
My hunch is that bulls are in for a BIG surprise.
If it's not obvious to you at this point that this "bullish" cycle is most probably over, you might want to get used to the thought.
For the record, based on history, I'm thinking DOWN.
visit bitcoinbattlefield.live for free real-time sights and sounds of bitcoin on bitmex.
The second chance for a reversal will come in December, Christmas week. BTC will need to decide -- above or below the weekly cloud. In 2018, there was little upside after the failed retest of the 200MA. That retest was about a month before a dribble mostly down into the cloud.
On Sunday, we say a failed retest of the 200MA on that pump to 9200. Was that the 2019 top? We shall find out!
My hunch is that bulls are in for a BIG surprise.
If it's not obvious to you at this point that this "bullish" cycle is most probably over, you might want to get used to the thought.
For the record, based on history, I'm thinking DOWN.
visit bitcoinbattlefield.live for free real-time sights and sounds of bitcoin on bitmex.