Few days ago, announcing a dump, the 100 and 200 MMA crossed. When did it happened the last time? In 2014, during the crash:
Looks very similar, right?
Now:
But when did those MMA crossed again?
In November 2015 to signal the end of the bear market.
Now, I am still hoping that this dip will be a spring and that we bounced around the $5500/5800 level, but I cannot ignore this strong signal that BTC will not bounce so soon and stay in low levels.
one crossed in bear trend, other at the begging of bull. Now we are bear, chances are we will keep moving to anticipated 5000 zone to start new accumulation period. That's just the healthiest move right now. Also, there is a lack of retail power now to even consider a bull run. We need a build up for that, and people are still in bear mode after last December. Everything will fall in line eventually.
trechz
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yes, you're righ, but i think it's gonna go much lower (3-4k) because like 2014 - 2015 the price will seek to bounce on the long terme resistance/support line.
Krauser
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@trechz, thanks for the feedback, much appreciated. Do you expect a fast or a slow bounce (many attempts)?
letsgetit
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lol
Krauser
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@letsgetit, Haha come on, thanks for reading and the comment! ;)
Jeff_Cryptopop
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@Krauser, Hey laughs at you now, but he's going to be a crying hodler in the weeks to come. Even the fake whale pumps can't fix this for longer than a day or do. I agree that a bigger drop is coming.
Krauser
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@Jeff_Cryptopop, thanks, I do not see many positive signs indeed...