Monthly 20EMA has seen BTC bounce 3 times off it. with this month being the third.
I believe that if this monthly candle closes above 20EMA and in green, the bottom is in.
If however the candle closes in red, even if above 20EMA, we may have the capitulation in November and start the new cycle afterwards.
If you think this is pretty useful, please give a like to let me know :)
Also, any comments on your opinion would be useful. Sometimes hearing what others are thinking helps get a better idea of the market.
I believe that if this monthly candle closes above 20EMA and in green, the bottom is in.
If however the candle closes in red, even if above 20EMA, we may have the capitulation in November and start the new cycle afterwards.
If you think this is pretty useful, please give a like to let me know :)
Also, any comments on your opinion would be useful. Sometimes hearing what others are thinking helps get a better idea of the market.
However does this mean 5k is coming? I still cannot make a call, howeevr I find it awfully suspicious that bitmex is about 200pts below all other exchnages and alts were like 10% or more below.
This could be a fake breakout before a big run up, but so much uncertainty that you are bound to lose money if you enter any position (and that's what they want I guess :) )