The necessity that these cross-overs must occur before uptrend can be established is nothing new although the alignment/strength of both the 50(MA) and the 100(MA) cross-over within close proximity, along the 1hr Golden Cross reversing within this time period to another Death cross, could be a triple threat add pressure to trend downwards.
squeezing price range under $10,000 and seems it would take rally similar to last to enable support from this indicator, with stagnate, only rising in bursts, realistically 2 times lower then needed, this is currently not possible.
currently holding 40, small room with the golden cross approaching before being oversold. Would expect large rise in and price to rebound after/during cross leading along .
would need to see some price action to cross-over into positive rise, this could be possible if the Golden Cross plays out, could push price higher during this short few day period although the divergence appears to be slowing.
Taking a monetary view of the market, USDT trading was very slowly being replaced with real USD, non-existent, FUD, the only "support" channel seems to be along the . this would increase pressure on this support in such a weak and reactive market and only a sharp incline in price would allow Investors back in (Investors don't buy dips, they buy on the rise).
Underlining the whole situation is trader's don't believe in the underlying technology (if anything only bitcoin -2.58% ), announcements are being held back until dust settles and constant FUD right at critical support levels. Although the technology hasn't changed from last year, the market has. It seems all indicators are at lowish levels in which a market with "legs" would jump on, but carnivorous nature of this risk built market would ensure lows are low and highs are high.
Short term trade, wait for the indicators to mature and align with others, a rise should be expected within the Golden Cross up until the Death Cross comes into play (50MA expected 23rd March), Alt coin funds will be indicator of reversal, flowing heavily into tether (USDT) and BTC at this stage. One indicator that I don't have access to is if large enough funds have a Fake-out planned...and can pull it off...and hit stop losses. A correction would still occur, long term hold your ground, the market will survive.
BTC -2.62% is seeing some tough times , so I should write this:
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