Hi All,
Looking at the 1D chart of
BTCUSD
on exchange Bitfinex; I notice the following:
This is my idea in brief, however, this is not a trading advice for anyone :-)
Looking at the 1D chart of
BTCUSD
on exchange Bitfinex; I notice the following: - The 20EMA is gearing up to dip below the 200EMA, this is a major event that only took place back in 2015/08/18!
- The good news is
BTCUSD
recovered in 2 months; on 2015/10/11 the 20EMA crossed the 200EMA upward. If the history is to repeat itself, I would expect to witness some strong bearish time for Bitcoin till end of 1H 2018, then start the recovery in the 2H.
- There is a general subtle uptrend since July 2017 (represented by the dotted line at the bottom of the chart) which I don't expect
BTCUSD
to dip below it much during this upcoming Bearish era.
- I think the lowest target to hit is around 6000 USD
This is my idea in brief, however, this is not a trading advice for anyone :-)