Noticeably the 89 EMA has crossed under the 233 EMA. Last time this happened in 2018, we saw decline and some significant bounces in those 5 months along the way to capitulation toward $3K. What worries me more about today is that all of those EMA's are converging quickly in a momentum swing downward with what appears a much higher pitch than before. In essence, if the lower channel TL at 6100 does not hold, BRACE for impact toward the 2015 TL at $4500. There is also notably what appears to be an adam and eve top pattern between the 20K high and 13K retracement. This alone has a potential to trigger serious downward pressure. Let's see where all this leads to in 6 months, shall we!
NOTE: Not trading or investment advice. Entertainment ONLY!
NOTE: Not trading or investment advice. Entertainment ONLY!
Comment:
Adam and Eve Top?
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Current EMA forecast
Comment:
converged under price action.
Trade active:
Will the EMA's be ignored? Watching.