DrDovetail
Short

! day Chart Impending Deathcross Update: Crisis Averted?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I still believe we are due for slightly more downside but noticed on the 1 day chart for the first time just now that suddenly the 50SMA has taken a sharp 180 degree turn to the upside. If it maintains the upward momentum at this angle for a prolonged period of days we may just avoid the death cross....anything can happen though but for now suddenly the death cross doesn't look as likely...a good sign for the longterm bullish potential of BTC whenever we find the most recent bottom. For now I'm still short thinking a drop at least back to the blue fib line is possible before we rebound but possibly as low as 72-76
Mar 26
Comment: as in 7200-7600. Although the oracle himself Magic Poop Cannon seems to be spotting a potential large head and shoudlers that he thinks spells complete doom for the entire crypto market. I find that incrediby hard to believe but we soon shall see. what unfolds with bias int he short term towards staying short for now. Already made great profits myself so I will probably just ladder in at further dips for now until I see this current bear flag that appears to be forming break lower and confirm the bearish break as well. Plenty of bullflag and bearflag breakouts recently.
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