FlaviusTodorius67

One last time to MA200 before the rally can start

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I think it's quite likely that we're going to revisit the MA200 one last time, as a final shakeout, before any kind of rally can start.
The stock market looks as if it want to commence a second dump wave, therefore, it's quite likely that btc will follow to some extent. However, it will not follow as strongly as last time, because
now, we are in post halving territory.
This last dip would also complete an E-wave, therefore completing the bullflag which has been in the making since soon 3 years.
The weekly MA200 now stands at around 6200, and slowly rising.

I would see a last correction as very healthy.
Also, the monthly picture speaks for that scenario too, since the monthly Bollinger Bands are still not narrow enough for a breakout to the upside. They need to contract further, which would
favor this scenario.
I see the chance for that happening around 60%, for an unexpected breakout to the upside with 25%, and for an unexpected complete breakdown of the structure, with prices below the MA200, with 5%.

Comments

everybody and their mother wants this scenario
+18 Reply
Pinkfloyd111. terrybit123
@terrybit123, then it won't happen
+4 Reply
FOXofLA terrybit123
@terrybit123, exactly. very well said and of course hilariously. our target for BTC is 1930$ if breaks $1000 and from there it can start the uptrend.
Reply
alifl8 FOXofLA
@FOXofLA, "our" target? you and your mother you mean?
+6 Reply
@terrybit123, I love your comment brother, it's just handsome
Reply
VickzinBK terrybit123
@terrybit123, this is actually what might happen perfectly. However, please remember things move from stop loss to stop loss.
Reply
moarbtc terrybit123
@terrybit123, Not true. Just look at all the bears in the comments to this one post alone. There are a shit ton. Clearly they don't think its going up, so that proves your statement false.
Reply
BakiShirzadi terrybit123
@terrybit123, we can go there only after hitting 2k or 1k
Reply
Dreamer! keep dreaming
+3 Reply
From my experience testing several times MA (in this case 200) is not positive signal for a rally. I personally would rather be short if breaks below 200MA.
+2 Reply
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