We have come to a point where Monday trading will determine the future after a dead weekend. We are coming upon the 1.618 fib circle and could start the climb up the ring or drop down further. We are showing 3 consecutive higher lows so hopefully we get one more bounce up. No matter what we do we are still below the 200 SMA and currently have the purple 200 SMA overtaking the light blue 200 EMA signaling a slowdown in recent action. When we see the 200 EMA on top we tend to be performing better in the short term. July and August of 2015 we were just coming out of the 2014 bear market and we dropped below the 200's then popped back above to tromp on toward an amazing 2017. Hodl-ers should stay positive because when bitcoin starts turning around the big money will start coming in again. Look for a 200 SMA and a 200 EMA cross. The only legitimate worry we have going into the bull market is this recession that's incoming and the unknown it brings.
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This is comparison between the 2015 start of the last bull market where we dipped under the 200 SMA and the 2019 dip under the 200 SMA. They are totally different but it testament to the fact that when we go between markets as a bear to bull reversal there will be a point where the markets are confused for a bit. This could be what we are experiencing now.
