I am forced to construe that I am not persuaded.
So guys, hello.
Let's discuss a serious fact somehow.
More precisely the correlation of several facts.
I'll take 1W chart, which is the most egregious.
Here we observe the following...
1. For the first time in BTC trading history there has been a death cross of EMA200 and EMA50 on the chart of week 1. Check this out. The EMA200 did not appear on the weekly chart until 2015. And EMA50 has never crossed it at 1W. That's a cross of death on such a large timeframe. Bloody hell, will it just go away? What's the argument that it should pass just like that and allow the price to quickly ignore that fact?
2. Price has reached EMA20 this week. From my personal observations on lower timeframes, when there is EMA50/200 cross pressure from above, price movement often stops already at the EMA20.
I have seen this on charts of 1H, 4H, 8H, 1D. I see it on the weekly chart. What should I think?
3. The price came out of channel, and then immediately touch weekly EMA20. A very good situation for bulltrap. But there is no way to know yet this week if it is a false-break.
If there is a sharp bounce back into channel now (several days), then at least a move back to the centre of the channel is assured....
4. Approximately at $20350, the weekly base-line Kijun-sen is now passing through (classic Ichimoku setting). If you trust genius Goichi Hosoda, you should also understand that this is a very powerful resistance, which will also hold the price if the pin breaks above the EMA20...
5. What I think about it so far (Taking all risks to be wrong).
It's an insidious scam with shaving bears stops, and at the same time trap for longists.
6. Having said that, yes, Stochastic is rising. And the momentum indicator also looks like it's ready to go up. But... these are some local bullish surges in a situation of a very bad bearish signal. The pump could go even higher, but there will also be a reset below.
P.S. I had to use the Bitstamp chart as it is older.
Let's discuss a serious fact somehow.
More precisely the correlation of several facts.
I'll take 1W chart, which is the most egregious.
Here we observe the following...
1. For the first time in BTC trading history there has been a death cross of EMA200 and EMA50 on the chart of week 1. Check this out. The EMA200 did not appear on the weekly chart until 2015. And EMA50 has never crossed it at 1W. That's a cross of death on such a large timeframe. Bloody hell, will it just go away? What's the argument that it should pass just like that and allow the price to quickly ignore that fact?
2. Price has reached EMA20 this week. From my personal observations on lower timeframes, when there is EMA50/200 cross pressure from above, price movement often stops already at the EMA20.
I have seen this on charts of 1H, 4H, 8H, 1D. I see it on the weekly chart. What should I think?
3. The price came out of channel, and then immediately touch weekly EMA20. A very good situation for bulltrap. But there is no way to know yet this week if it is a false-break.
If there is a sharp bounce back into channel now (several days), then at least a move back to the centre of the channel is assured....
4. Approximately at $20350, the weekly base-line Kijun-sen is now passing through (classic Ichimoku setting). If you trust genius Goichi Hosoda, you should also understand that this is a very powerful resistance, which will also hold the price if the pin breaks above the EMA20...
5. What I think about it so far (Taking all risks to be wrong).
It's an insidious scam with shaving bears stops, and at the same time trap for longists.
6. Having said that, yes, Stochastic is rising. And the momentum indicator also looks like it's ready to go up. But... these are some local bullish surges in a situation of a very bad bearish signal. The pump could go even higher, but there will also be a reset below.
P.S. I had to use the Bitstamp chart as it is older.
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