The Bigger Picture (Looks Rather SCARY) - BTC Monthly

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Continuing from my previous idea I've just published, I mentioned the monthly doesn't look quite as promising as the daily does... If you understand moving averages you will see what I mean straightaway.

The 5 Monthly MA has not crossed the 10 Monthly MA since 2014, when it underwent an extremely long bear run lasting over 450 days looks like it's heading towards that same situation again, it's close, oh so close on the monthly!

To give you a better idea how long 450 plus days in Cryptoworld feels, it's like about 450 years in the real world!

The bulls better pick it up soon or we're in a deep deep trouble here.

As always, do not take this as trading advice, DYOR too :)

Comment: Don't forget about this, remember it's not happen since 2014, and it may well signal the beginning of a very long bear trend.

Look how close the 5 MA (Red) is to the 10 MA (Yellow)

Comment: Oh dear, it has crossed over. This is definitely not a good sign if we go by what happened when it crossed like this back in 2014.

See you in 450 days (sorry, years I mean). Or let's just hope this crossover doesn't last as long as the previous one :)

Buddy cool strategy. I think everything will work out. I will follow you, interesting how it will end!
Thanks for insight. Is that crossover confirmed or do we have to wait until this candle closes?
byi_786 MarraM
@MarraM, Confirmed when the candle closes, but as it's crossed over, that's a big thing in itself.
MarraM byi_786
@byi_786, thanks. I guess we’ll know what the whales are planning by eom as this crossover is not good.

+1 Reply
It is only scary if you are unprepared :) otherwise, this is a beautiful opportunity, hehe.
+1 Reply
byi_786 FlaviusTodorius67
@FlaviusTodorius67, Very true, I try to be prepared for all outcomes!
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