notice that we had wicks over the 34MA with the stock rsi topping out in the overbought region in the 4 hourly chart. This tells me we need to wait for a pullback down to the 150MA which has held a strong support several times throughout bitcoins bull run. Buy in after the next pullback with a stop loss below the 150MA. Furthermore, if we do go long after this last pull back bitcoin can run to the 16.5K if it still has enough steam before the weekly stock rsi decides to pull back on the daily.
its also possible the we bounce between the 34 ma and the 150 ma and compress the prices until it explodes up. I think on the next upwards 4 hourly cycle we will break out since we dropped around 30% from the 14k high.
either way easy money I'm locked and loaded.
be sure to trade with a stop loss people this is great info but the market can do whatever it wants to do.
its also possible the we bounce between the 34 ma and the 150 ma and compress the prices until it explodes up. I think on the next upwards 4 hourly cycle we will break out since we dropped around 30% from the 14k high.
either way easy money I'm locked and loaded.
be sure to trade with a stop loss people this is great info but the market can do whatever it wants to do.
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