I expect a bearish back half 2019 for BTC price and am looking for a re-test of the lower diagonal trend line pictured here. I also am keeping a close eye on the weekly 200MA and expect that will be respected and hold above on a weekly close basis.There will no doubt be some mini-bulls along the way, but this is my overall projection.
If we touch the weekly 200MA I will buy heavily, and if we have a successful weekly close on the bottom diagonal trend line I will wait for 1 more weekly close above it then buy. The 200MA is a serious heavy support, and if it breaks with a weekly close below, and then a green weekly retest from below that fails to get back above then its a super bearish sign.
If we touch the weekly 200MA I will buy heavily, and if we have a successful weekly close on the bottom diagonal trend line I will wait for 1 more weekly close above it then buy. The 200MA is a serious heavy support, and if it breaks with a weekly close below, and then a green weekly retest from below that fails to get back above then its a super bearish sign.
Comment:
Idea is playing out pretty well so far. Bearish crossover coming on Daily chart, so I'm looking for that to lead us to at least the upper $6k range, which is where the 50ma on weekly chart is sitting. Probably bounce around that area for another month or so then a break below for a brief touch of the Weekly 200ma upper $4k-low $5k range.
Comment:
Time to buy. Mid-$4k now