How's every body doing. hope every one is keeping their emotions out of the trading game. Remember win or lose its all about learning and the journey.
if you happen to stumble onto my chart I hope to shine some light on a few events happening as we speak in Bitcoin!
Exciting stuff are we gonna buy lambos or are we all gonna loose some cash flow money? That is the question.
ill quickly lay a few disclaimers. this is not trading advice just my humble opinion.
Better to have little, with fear for the Lord, than to have great treasure and inner turmoil.
Firm Believer. Even tho money in itself is not evil the love and the desire for more has a lot of implications on who you are.
So what ever you make or lose remember to not stay plastered to the screen and enjoy the greater gift of what is called TODAY.
So lets get to it!
Here I have 4 things highlighted
1. The DEATH CROSS is upon us!
when the 50 MA crosses the 200 MA
(usually imply's a strong bear market) or in our case a continued bear market.
2. I see a descending , with strong support coming to an determining direction!
This is exciting as we see the nearing its end, the common question is it gonna break up or is it gonna break down?!
and the answer is YES!
3. Daily and 4hr both show signs of oversold.
Now an idea to think of does a "Death Cross" determine a direction in a market. and the answer is NO. their are many, countless factors of a market. If you see
in the history of BTC plenty of times shortly after a death cross we saw a rise in the market. Could this happen again? do our other events show a potential bounce?
Seems to have found some stability, even with a fall in price. Of Course it does show room for more retracement but also shows signs of a potential up move.
Thats it folks! will btc die (once again) just like the world ends every other year? or do we hodl?
the choice is yours.